Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Patron Partners LLC

Patron Partners LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 535 shares of the construction company’s stock after buying an additional 40 shares during the period. Patron Partners LLC’s holdings in Martin Marietta Materials were worth $288,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after purchasing an additional 704,460 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after acquiring an additional 106,002 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $41,142,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.6 %

Shares of Martin Marietta Materials stock opened at $616.05 on Tuesday. The firm has a market cap of $37.65 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. Martin Marietta Materials, Inc. has a 52-week low of $451.37 and a 52-week high of $633.23. The company’s 50-day simple moving average is $549.06 and its 200-day simple moving average is $556.31. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.94 EPS. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.51%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MLM shares. Stephens lowered their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Citigroup lowered their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Finally, Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.