Allstate Corp Makes New $1.52 Million Investment in Martin Marietta Materials, Inc. $MLM

Allstate Corp purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,413 shares of the construction company’s stock, valued at approximately $1,521,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its position in shares of Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after buying an additional 49 shares during the last quarter. Empowered Funds LLC grew its stake in Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after buying an additional 51 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Martin Marietta Materials by 32.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,811 shares of the construction company’s stock worth $3,800,000 after acquiring an additional 1,652 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Martin Marietta Materials by 910.0% in the second quarter. Assenagon Asset Management S.A. now owns 24,736 shares of the construction company’s stock worth $13,579,000 after acquiring an additional 22,287 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM opened at $630.73 on Wednesday. The firm has a market capitalization of $38.04 billion, a PE ratio of 33.25 and a beta of 1.15. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $668.83. The firm’s 50-day moving average price is $626.95 and its 200 day moving average price is $613.97.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.50%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James Financial upped their price target on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Stifel Nicolaus upped their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. B. Riley initiated coverage on Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price target for the company. DA Davidson reaffirmed a “neutral” rating and set a $690.00 target price on shares of Martin Marietta Materials in a report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $670.63.

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.