Assenagon Asset Management S.A. Has $1.17 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Assenagon Asset Management S.A. lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 92.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,449 shares of the construction company’s stock after selling 29,387 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Martin Marietta Materials were worth $1,171,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in Martin Marietta Materials during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in Martin Marietta Materials in the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $35,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials during the fourth quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after acquiring an additional 34 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.3%

Shares of Martin Marietta Materials stock opened at $541.25 on Wednesday. The firm has a market capitalization of $32.63 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 4.92 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99. The company’s fifty day moving average price is $532.67 and its two-hundred day moving average price is $521.58. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. Martin Marietta Materials’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 EPS. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 18.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MLM shares. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Loop Capital cut their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Morgan Stanley boosted their price objective on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, UBS Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their target price for the company from $548.00 to $634.00 in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $603.86.

Martin Marietta Materials Company 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.