Alkeon Capital Management LLC Acquires 32,000 Shares of Martin Marietta Materials, Inc. $MLM

Alkeon Capital Management LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.2% in the 2nd quarter, Holdings Channel reports. The firm owned 802,351 shares of the construction company’s stock after buying an additional 32,000 shares during the quarter. Martin Marietta Materials accounts for 0.7% of Alkeon Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Alkeon Capital Management LLC’s holdings in Martin Marietta Materials were worth $440,459,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLM. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth about $28,000. NewSquare Capital LLC raised its holdings in Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares during the period. Clearstead Trust LLC raised its holdings in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after acquiring an additional 30 shares during the period. Aspect Partners LLC lifted its position in Martin Marietta Materials by 540.0% during the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after acquiring an additional 54 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in Martin Marietta Materials during the second quarter valued at about $37,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 0.5%

NYSE MLM opened at $628.96 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $619.07 and its two-hundred day moving average is $596.10. The company has a market capitalization of $37.93 billion, a price-to-earnings ratio of 33.16 and a beta of 1.16. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $665.18.

Martin Marietta Materials (NYSE:MLM) last issued 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). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MLM shares. Stifel Nicolaus raised their price target on Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Morgan Stanley lifted their price target on Martin Marietta Materials from $610.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Wells Fargo & Company cut their price target on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Finally, Raymond James Financial boosted their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.