Lombard Odier Asset Management Switzerland SA Makes New $1.75 Million Investment in Martin Marietta Materials, Inc. $MLM

Lombard Odier Asset Management Switzerland SA acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the first quarter, HoldingsChannel reports. The institutional investor acquired 2,968 shares of the construction company’s stock, valued at approximately $1,747,000.

A number of other large investors have also recently made changes to their positions in MLM. Integrated Wealth Concepts LLC raised its holdings in Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC raised its stake in Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after buying an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after buying an additional 143 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $573.11 on Tuesday. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The firm’s 50-day moving average is $576.33 and its 200 day moving average is $609.45. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $1.90 EPS. Martin Marietta Materials’s revenue was up 17.2% compared to the same quarter last year. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James Financial lowered their price objective on shares of Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Barclays decreased their target price on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a research report on Thursday, April 2nd. Finally, Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $681.53.

Martin Marietta Materials Company Profile

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.