Pinnbrook Capital Management LP Buys 10,061 Shares of Martin Marietta Materials, Inc. $MLM

Pinnbrook Capital Management LP raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 91.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,081 shares of the construction company’s stock after purchasing an additional 10,061 shares during the period. Martin Marietta Materials accounts for 1.5% of Pinnbrook Capital Management LP’s portfolio, making the stock its 13th largest holding. Pinnbrook Capital Management LP’s holdings in Martin Marietta Materials were worth $13,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MLM. Bank of America Corp DE grew its stake in Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares during the last quarter. Norges Bank bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth about $233,811,000. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 9.6% during the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after acquiring an additional 192,637 shares during the period. Vanguard Group Inc. grew its holdings in shares of Martin Marietta Materials by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after purchasing an additional 93,595 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Martin Marietta Materials by 141.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 117,872 shares of the construction company’s stock worth $74,292,000 after purchasing an additional 69,016 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $584.08 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The business’s fifty day moving average price is $654.23 and its two-hundred day moving average price is $632.51. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The stock has a market capitalization of $35.23 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business posted $4.79 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.66%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a research note on Wednesday, January 28th. Citigroup lifted their price target on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Stephens lowered their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Zacks Research cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Hold” and an average price target of $696.88.

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.