Assenagon Asset Management S.A. Increases Stake in Martin Marietta Materials, Inc. $MLM

Assenagon Asset Management S.A. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 23.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,533 shares of the construction company’s stock after purchasing an additional 5,797 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of Martin Marietta Materials worth $19,244,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its position in Martin Marietta Materials by 10.4% during the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after purchasing an additional 17 shares in the last quarter. Snowden Capital Advisors LLC lifted its position in shares of Martin Marietta Materials by 1.9% during the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock valued at $533,000 after buying an additional 18 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Martin Marietta Materials by 2.5% in the 2nd quarter. Personal CFO Solutions LLC now owns 787 shares of the construction company’s stock valued at $432,000 after buying an additional 19 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Martin Marietta Materials by 1.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company’s stock valued at $661,000 after buying an additional 21 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of Martin Marietta Materials by 1.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,113 shares of the construction company’s stock worth $666,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 1.0%

Martin Marietta Materials stock opened at $633.79 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18. The company has a market capitalization of $38.22 billion, a price-to-earnings ratio of 33.41 and a beta of 1.16. The stock has a 50-day moving average price of $618.59 and a 200 day moving average price of $598.81.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a $0.83 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.50%.

Analysts Set New Price Targets

MLM has been the topic of several analyst reports. Barclays lifted their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Raymond James Financial boosted their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price target on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Finally, Stifel Nicolaus boosted their price target on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $650.31.

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.