Stablepoint Partners LLC Acquires New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Stablepoint Partners LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 913 shares of the construction company's stock, valued at approximately $472,000.

Other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. raised its holdings in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC raised its holdings in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services acquired a new position in Martin Marietta Materials during the third quarter valued at approximately $33,000. Retirement Wealth Solutions LLC purchased a new stake in Martin Marietta Materials during the fourth quarter worth approximately $41,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter worth $49,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLM. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wolfe Research raised Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group reduced their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $648.71.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $2.46 during trading on Monday, reaching $546.10. The stock had a trading volume of 318,534 shares, compared to its average volume of 359,208. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a market cap of $33.38 billion, a PE ratio of 17.02, a P/E/G ratio of 3.21 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $490.05 and a one year high of $633.23. The firm's 50 day moving average price is $550.81 and its two-hundred day moving average price is $551.56.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $6.94 EPS. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.