Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Lifted by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 634.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,617 shares of the construction company’s stock after acquiring an additional 3,988 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Martin Marietta Materials were worth $2,385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Private Advisor Group LLC grew its position in Martin Marietta Materials by 20.6% during the third quarter. Private Advisor Group LLC now owns 1,458 shares of the construction company’s stock valued at $785,000 after purchasing an additional 249 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Martin Marietta Materials by 46,996.7% in the third quarter. International Assets Investment Management LLC now owns 56,516 shares of the construction company’s stock valued at $30,420,000 after acquiring an additional 56,396 shares during the last quarter. Allworth Financial LP lifted its stake in Martin Marietta Materials by 89.3% in the third quarter. Allworth Financial LP now owns 799 shares of the construction company’s stock valued at $430,000 after acquiring an additional 377 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Martin Marietta Materials by 8.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,846 shares of the construction company’s stock valued at $4,230,000 after acquiring an additional 635 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in Martin Marietta Materials by 46.6% in the third quarter. Arkadios Wealth Advisors now owns 1,934 shares of the construction company’s stock valued at $1,041,000 after acquiring an additional 615 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of analyst reports. Truist Financial reduced their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Stephens reduced their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $490.60 on Tuesday. The stock has a market cap of $29.99 billion, a P/E ratio of 15.17, a PEG ratio of 4.45 and a beta of 0.91. Martin Marietta Materials, Inc. has a one year low of $482.72 and a one year high of $633.23. The company has a fifty day moving average price of $528.99 and a 200 day moving average price of $546.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is currently 9.77%.

Martin Marietta Materials Company Profile

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.