Eventide Asset Management LLC Acquires New Position in Martin Marietta Materials, Inc. $MLM

Eventide Asset Management LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,890 shares of the construction company’s stock, valued at approximately $1,804,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Optima Capital LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $32,000. Union Bancaire Privee UBP SA bought a new stake in Martin Marietta Materials in the 4th quarter valued at about $36,000. Finally, Quarry LP bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $38,000. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MLM. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company boosted their price target on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Barclays dropped their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a research report on Thursday, April 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $575.51 on Monday. The firm’s 50 day moving average is $589.47 and its 200-day moving average is $618.98. The stock has a market capitalization of $34.56 billion, a P/E ratio of 13.72, a P/E/G ratio of 2.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

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.