Harvey Partners LLC Buys 3,170 Shares of Martin Marietta Materials, Inc. $MLM

Harvey Partners LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,100 shares of the construction company’s stock after buying an additional 3,170 shares during the period. Martin Marietta Materials comprises 2.9% of Harvey Partners LLC’s holdings, making the stock its 15th biggest holding. Harvey Partners LLC’s holdings in Martin Marietta Materials were worth $32,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp raised its holdings in shares of Martin Marietta Materials by 321.8% in the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock valued at $2,406,000 after acquiring an additional 2,912 shares in the last quarter. Atika Capital Management LLC grew its holdings in Martin Marietta Materials by 30.4% during the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock worth $39,818,000 after acquiring an additional 16,900 shares in the last quarter. National Pension Service increased its position in Martin Marietta Materials by 1.0% during the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after purchasing an additional 843 shares during the period. HB Wealth Management LLC increased its position in Martin Marietta Materials by 78.5% during the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock valued at $5,048,000 after purchasing an additional 3,522 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $1,605,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MLM. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $630.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Wells Fargo & Company lowered their target price on 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. Zacks Research cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Finally, Citigroup lifted their price target on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $696.88.

Martin Marietta Materials Trading Down 0.6%

NYSE MLM opened at $584.08 on Monday. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The firm has a market cap of $35.23 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. The company has a 50 day moving average price of $654.23 and a 200 day moving average price of $632.73. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $4.79 earnings per share. Martin Marietta Materials’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 0.6%. The ex-dividend date is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is currently 17.66%.

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.