SG Americas Securities LLC Purchases 3,728 Shares of Martin Marietta Materials, Inc. $MLM

SG Americas Securities LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 66.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,316 shares of the construction company’s stock after purchasing an additional 3,728 shares during the period. SG Americas Securities LLC’s holdings in Martin Marietta Materials were worth $5,801,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares in the last quarter. Norges Bank bought a new stake in Martin Marietta Materials in the 2nd quarter valued at about $233,811,000. Principal Financial Group Inc. raised its stake in Martin Marietta Materials by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after buying an additional 192,637 shares during the period. Millennium Management LLC raised its stake in Martin Marietta Materials by 1,570.3% during the 3rd quarter. Millennium Management LLC now owns 108,167 shares of the construction company’s stock worth $68,175,000 after buying an additional 115,524 shares during the period. Finally, Freestone Grove Partners LP boosted its holdings in Martin Marietta Materials by 748.5% in the third quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock worth $78,762,000 after acquiring an additional 110,236 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MLM has been the subject of several recent research reports. Stephens decreased their price objective on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a report on Friday, February 13th. B. Riley Financial initiated coverage on Martin Marietta Materials in a report on Thursday, January 15th. They issued a “neutral” rating and a $700.00 target price on the stock. Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Morgan Stanley decreased their price target on shares of Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. Finally, Loop Capital downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective on the stock. in a report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $694.69.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $589.02 on Wednesday. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $710.97. 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 business has a 50 day moving average price of $637.48 and a 200-day moving average price of $629.25. The company has a market cap of $35.52 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) 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 company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm earned $4.79 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 2nd. Martin Marietta Materials’s payout ratio is currently 17.66%.

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.