AlphaQuest LLC Buys 5,514 Shares of Martin Marietta Materials, Inc. $MLM

AlphaQuest LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 137,850.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,518 shares of the construction company’s stock after buying an additional 5,514 shares during the quarter. AlphaQuest LLC’s holdings in Martin Marietta Materials were worth $3,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Atika Capital Management LLC grew its stake in shares of 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. HB Wealth Management LLC boosted its holdings in Martin Marietta Materials by 78.5% during the third quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock worth $5,048,000 after purchasing an additional 3,522 shares during the last quarter. Fenimore Asset Management Inc grew its position in Martin Marietta Materials by 0.9% in the third quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company’s stock valued at $56,509,000 after purchasing an additional 807 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in Martin Marietta Materials by 31.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,365 shares of the construction company’s stock valued at $2,988,000 after buying an additional 1,287 shares during the last quarter. Finally, Tableaux LLC bought a new stake in Martin Marietta Materials during the 2nd quarter worth about $5,060,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLM. JPMorgan Chase & Co. raised their price objective on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Wells Fargo & Company raised their price target on Martin Marietta Materials from $610.00 to $631.00 and gave the company an “equal weight” rating in a research note on Thursday. Loop Capital cut Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective on the stock. in a research note on Wednesday. Barclays increased their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Citigroup boosted their target price on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $676.63.

Martin Marietta Materials Trading Up 0.3%

MLM stock opened at $652.22 on Friday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $668.83. The stock has a market cap of $39.34 billion, a price-to-earnings ratio of 34.38 and a beta of 1.15. The company has a fifty day moving average price of $634.03 and a two-hundred day moving average price of $617.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Martin Marietta Materials 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.