Geode Capital Management LLC Buys 10,743 Shares of Martin Marietta Materials, Inc. $MLM

Geode Capital Management LLC raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,553,364 shares of the construction company’s stock after acquiring an additional 10,743 shares during the quarter. Geode Capital Management LLC owned approximately 2.58% of Martin Marietta Materials worth $963,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC boosted its position in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after purchasing an additional 16 shares in the last quarter. Harbour Investments Inc. raised its holdings in Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after purchasing an additional 16 shares in the last quarter. Fiduciary Alliance LLC lifted its position in Martin Marietta Materials by 2.6% during the fourth quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company’s stock valued at $437,000 after buying an additional 18 shares during the period. Vise Technologies Inc. lifted its position in Martin Marietta Materials by 2.5% during the third quarter. Vise Technologies Inc. now owns 731 shares of the construction company’s stock valued at $461,000 after buying an additional 18 shares during the period. Finally, Snowden Capital Advisors LLC increased its stake in shares of Martin Marietta Materials by 1.9% in the 2nd quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock worth $533,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a research report on Monday, April 27th. Royal Bank Of Canada dropped their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a report on Monday, May 4th. Finally, UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a report on Sunday, May 10th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $689.81.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $582.80 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The firm has a market capitalization of $35.00 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $590.95 and a 200 day moving average of $621.11.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 7.91%.

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.