Hudson Bay Capital Management LP Invests $3.65 Million in Martin Marietta Materials, Inc. $MLM

Hudson Bay Capital Management LP acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,785 shares of the construction company’s stock, valued at approximately $3,646,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Allworth Financial LP grew its stake in Martin Marietta Materials by 12.2% during the third quarter. Allworth Financial LP now owns 1,680 shares of the construction company’s stock worth $1,059,000 after purchasing an additional 183 shares during the period. Swiss Life Asset Management Ltd lifted its stake in Martin Marietta Materials by 8.0% in the third quarter. Swiss Life Asset Management Ltd now owns 8,518 shares of the construction company’s stock valued at $5,369,000 after buying an additional 634 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in Martin Marietta Materials in the third quarter valued at approximately $27,000. Trust Investment Advisors boosted its holdings in shares of Martin Marietta Materials by 4.9% during the 3rd quarter. Trust Investment Advisors now owns 1,805 shares of the construction company’s stock worth $1,138,000 after buying an additional 85 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $21,381,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.0%

Shares of NYSE:MLM opened at $561.90 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $710.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The firm has a fifty day moving average of $647.19 and a 200 day moving average of $631.14. The firm has a market capitalization of $33.89 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.21 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter 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, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders 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 yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MLM shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $630.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. B. Riley Financial initiated coverage on Martin Marietta Materials in a research note on Thursday, January 15th. They issued a “neutral” rating and a $700.00 target price for the company. Zacks Research lowered shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. Morgan Stanley decreased their price objective on Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating for the company in a report on Monday, March 9th. Finally, DA Davidson set a $680.00 price target on Martin Marietta Materials in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.