Martin Marietta Materials, Inc. $MLM Stock: Kornitzer Capital Management Inc. KS Increases Stake

Kornitzer Capital Management Inc. KS boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 31,830 shares of the construction company’s stock after buying an additional 2,339 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Martin Marietta Materials were worth $15,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management lifted its stake in Martin Marietta Materials by 1,633.3% during the 3rd quarter. Activest Wealth Management now owns 52 shares of the construction company’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after acquiring an additional 19 shares in the last quarter. WestEnd Advisors LLC grew its stake in shares of Martin Marietta Materials by 1,900.0% in the 3rd quarter. WestEnd Advisors LLC now owns 60 shares of the construction company’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Finally, GK Wealth Management LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth $32,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $517.36 on Friday. The stock has a 50 day moving average of $503.01 and a 200 day moving average of $573.42. The company has a market capitalization of $36.79 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.69 and a beta of 1.02. Martin Marietta Materials, Inc. has a 12 month low of $464.92 and a 12 month high of $710.97. The company has a current ratio of 1.63, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing the consensus estimate of $5.99 by ($0.52). The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.85 EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 16.58 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.89%.

Wall Street Analysts Forecast Growth

MLM has been the subject of several analyst reports. Wall Street Zen downgraded shares of Martin Marietta Materials from a “sell” rating to a “strong sell” rating in a report on Saturday. HSBC dropped their price target on shares of Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating on the stock in a research report on Tuesday, September 8th. Sanford C. Bernstein cut shares of Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. DA Davidson raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $610.00 price objective for the company in a research report on Friday, October 16th. Finally, Weiss Ratings lowered shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. Fifteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.60.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt.

The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States.

Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.