Balyasny Asset Management L.P. Acquires 127,492 Shares of Martin Marietta Materials, Inc. $MLM

Balyasny Asset Management L.P. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 263.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 175,911 shares of the construction company’s stock after acquiring an additional 127,492 shares during the quarter. Balyasny Asset Management L.P. owned about 0.29% of Martin Marietta Materials worth $109,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optima Capital LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Martin Marietta Materials during the third quarter worth $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the third quarter worth $32,000. Union Bancaire Privee UBP SA bought a new position in shares of Martin Marietta Materials during the fourth quarter worth $36,000. Finally, Quarry LP bought a new position in shares of Martin Marietta Materials during the third quarter worth $38,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Down 2.2%

MLM opened at $590.40 on Thursday. The stock has a market capitalization of $35.45 billion, a P/E ratio of 14.07, a P/E/G ratio of 2.56 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The firm’s fifty day simple moving average is $589.25 and its 200 day simple moving average is $618.41. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $1.90 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s payout ratio is presently 7.91%.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent analyst reports. UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Truist Financial lifted their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $681.94.

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.