ABC Arbitrage SA Takes $2.98 Million Position in Martin Marietta Materials, Inc. $MLM

ABC Arbitrage SA bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,724 shares of the construction company’s stock, valued at approximately $2,977,000.

Several other large investors have also recently modified their holdings of the business. Quent Capital LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Martin Marietta Materials during the second quarter worth $28,000. NewSquare Capital LLC lifted its holdings in Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after buying an additional 23 shares during the period. Grey Fox Wealth Advisors LLC acquired a new position in Martin Marietta Materials in the third quarter valued at $33,000. Finally, Clearstead Trust LLC boosted its position in Martin Marietta Materials by 93.8% during the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 1.9%

Shares of NYSE:MLM opened at $708.94 on Wednesday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. The company has a market capitalization of $42.76 billion, a PE ratio of 37.37 and a beta of 1.16. The business has a fifty day moving average price of $643.76 and a two-hundred day moving average price of $624.46. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

MLM has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Barclays increased their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Raymond James Financial lifted their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $660.00 to $690.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, Stifel Nicolaus raised their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $676.63.

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.