4,057 Shares in Martin Marietta Materials, Inc. $MLM Acquired by Mattson Financial Services LLC

Mattson Financial Services LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, Holdings Channel reports. The fund purchased 4,057 shares of the construction company’s stock, valued at approximately $2,557,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the last quarter. Norges Bank bought a new position in Martin Marietta Materials in the 2nd quarter valued at about $233,811,000. Amundi boosted its holdings in shares of Martin Marietta Materials by 9.2% during the first quarter. Amundi now owns 1,706,416 shares of the construction company’s stock worth $827,345,000 after acquiring an additional 144,270 shares during the period. Hawk Ridge Capital Management LP boosted its holdings in shares of Martin Marietta Materials by 111.5% during the first quarter. Hawk Ridge Capital Management LP now owns 191,575 shares of the construction company’s stock worth $91,598,000 after acquiring an additional 100,975 shares during the period. Finally, State Street Corp grew its position in shares of Martin Marietta Materials by 2.0% in the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after purchasing an additional 56,353 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $645.75 on Monday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $665.18. The stock has a market cap of $38.95 billion, a price-to-earnings ratio of 34.04 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The company has a 50 day simple moving average of $618.92 and a 200 day simple moving average of $602.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is 17.50%.

Analysts Set New Price Targets

Several analysts recently weighed in on MLM shares. DA Davidson set a $690.00 price target on Martin Marietta Materials in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Morgan Stanley increased their target price on Martin Marietta Materials from $660.00 to $690.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $652.19.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.