Aquatic Capital Management LLC Increases Position in Martin Marietta Materials, Inc. $MLM

Aquatic Capital Management LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 474.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,143 shares of the construction company’s stock after acquiring an additional 13,333 shares during the period. Aquatic Capital Management LLC’s holdings in Martin Marietta Materials were worth $10,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after purchasing an additional 565,856 shares during the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials in the second quarter valued at about $233,811,000. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 9.6% in the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after purchasing an additional 192,637 shares during the last quarter. Freestone Grove Partners LP raised its stake in shares of Martin Marietta Materials by 748.5% in the third quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock worth $78,762,000 after purchasing an additional 110,236 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after purchasing an additional 93,595 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a research report on Wednesday, January 28th. B. Riley Financial started coverage on shares of Martin Marietta Materials in a research note on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective for the company. Stephens dropped their price objective on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Finally, DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Hold” and an average price target of $696.88.

Martin Marietta Materials Stock Down 0.6%

Martin Marietta Materials stock opened at $584.08 on Monday. The firm has a market cap of $35.23 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $710.97. The business’s 50-day moving average price is $654.23 and its 200 day moving average price is $632.73. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the firm posted $4.79 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s payout ratio is 17.66%.

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.