Martin Marietta Materials, Inc. $MLM Holdings Boosted by Osaic Holdings Inc.

Osaic Holdings Inc. raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 47.1% in the second quarter, HoldingsChannel.com reports. The fund owned 7,959 shares of the construction company’s stock after buying an additional 2,547 shares during the quarter. Osaic Holdings Inc.’s holdings in Martin Marietta Materials were worth $4,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in Martin Marietta Materials by 13.3% during the 1st quarter. Ameriprise Financial Inc. now owns 142,306 shares of the construction company’s stock worth $68,042,000 after buying an additional 16,752 shares during the last quarter. Compound Planning Inc. boosted its holdings in shares of Martin Marietta Materials by 21.4% during the first quarter. Compound Planning Inc. now owns 891 shares of the construction company’s stock valued at $426,000 after acquiring an additional 157 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of Martin Marietta Materials by 69.6% during the first quarter. Kestra Advisory Services LLC now owns 4,884 shares of the construction company’s stock valued at $2,335,000 after acquiring an additional 2,005 shares during the period. Ieq Capital LLC grew its position in shares of Martin Marietta Materials by 4.9% during the first quarter. Ieq Capital LLC now owns 2,471 shares of the construction company’s stock worth $1,182,000 after acquiring an additional 115 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth about $272,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company lowered their target price on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Raymond James Financial increased their price target on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Jefferies Financial Group raised their price target on Martin Marietta Materials from $725.00 to $730.00 and gave the company a “buy” rating in a report on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $652.19.

Martin Marietta Materials Stock Up 0.7%

MLM stock opened at $643.14 on Thursday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $665.18. The firm has a market cap of $38.79 billion, a PE ratio of 33.90 and a beta of 1.16. The firm has a 50 day simple moving average of $618.14 and a 200 day simple moving average of $601.02. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results 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 net margin of 17.34% and a return on equity of 11.68%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

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.