Y Intercept Hong Kong Ltd Has $339,000 Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Y Intercept Hong Kong Ltd lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 88.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 629 shares of the construction company’s stock after selling 4,816 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Martin Marietta Materials were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its holdings in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after purchasing an additional 334,605 shares during the period. Principal Financial Group Inc. raised its stake in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after acquiring an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after acquiring an additional 11,749 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Loop Capital lifted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group cut their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $653.08.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $544.78 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $479.67 and a fifty-two week high of $633.23. The company’s 50-day moving average is $579.74 and its 200 day moving average is $555.47. 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 company has a market capitalization of $33.30 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business earned $6.94 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. Martin Marietta Materials’s dividend payout ratio 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.