Martin Marietta Materials, Inc. $MLM Shares Bought by Citigroup Inc.

Citigroup Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 33.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,119 shares of the construction company’s stock after buying an additional 31,463 shares during the period. Citigroup Inc. owned approximately 0.21% of Martin Marietta Materials worth $78,860,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MLM. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 1.3% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock worth $1,622,254,000 after buying an additional 10,445 shares in the last quarter. State Street Corp increased its stake in shares of Martin Marietta Materials by 2.0% during the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock worth $1,550,990,000 after buying an additional 56,353 shares during the period. Bank of America Corp DE increased its stake in shares of Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in 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 valued at $1,389,428,000 after acquiring an additional 192,637 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $686.51 on Monday. The company has a fifty day moving average of $651.62 and a two-hundred day moving average of $629.22. The company has a market capitalization of $41.40 billion, a PE ratio of 36.52, a P/E/G ratio of 2.62 and a beta of 1.16. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. 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 (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.79 earnings per share. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm 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 $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Wall Street Analysts Forecast Growth

MLM has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Wells Fargo & Company cut their price target on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $706.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, February 17th. Finally, Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $690.69.

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.