Hudson Bay Capital Management LP Acquires New Position in Martin Marietta Materials, Inc. $MLM

Hudson Bay Capital Management LP bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,785 shares of the construction company’s stock, valued at approximately $3,646,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MLM. Atlantic Union Bankshares Corp raised its stake in Martin Marietta Materials by 321.8% during the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after acquiring an additional 2,912 shares in the last quarter. Atika Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 30.4% in the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock valued at $39,818,000 after purchasing an additional 16,900 shares in the last quarter. National Pension Service grew its holdings in shares of Martin Marietta Materials by 1.0% during the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after purchasing an additional 843 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Martin Marietta Materials by 78.5% during the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock valued at $5,048,000 after purchasing an additional 3,522 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in Martin Marietta Materials during the 3rd quarter worth approximately $1,605,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $561.90 on Friday. The stock has a market capitalization of $33.89 billion, a PE ratio of 29.89, a PEG ratio of 2.21 and a beta of 1.13. The business’s 50 day simple moving average is $647.19 and its 200 day simple moving average is $631.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the business posted $4.79 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts forecast 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. Investors of record on Monday, March 2nd will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.66%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MLM shares. Citigroup raised their target price on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Zacks Research cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. Jefferies Financial Group restated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. DA Davidson set a $680.00 target price on Martin Marietta Materials in a report on Thursday, February 12th. Finally, Morgan Stanley dropped their target price on Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. Eight investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials Company 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.