Marnell Management LLC Invests $806,000 in Martin Marietta Materials, Inc. $MLM

Marnell Management LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,295 shares of the construction company’s stock, valued at approximately $806,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optima Capital LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials during the 3rd quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials during the 3rd quarter worth about $32,000. Union Bancaire Privee UBP SA acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $36,000. Finally, Quarry LP acquired a new stake in Martin Marietta Materials during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on MLM shares. Oppenheimer started coverage on Martin Marietta Materials in a report on Thursday, May 28th. They set a “market perform” rating on the stock. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a report on Monday, April 27th. Morgan Stanley lowered their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company lifted their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $575.51 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $34.56 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 2.45 and a beta of 1.10. The stock’s fifty day simple moving average is $589.47 and its 200-day simple moving average is $618.98.

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

Martin Marietta Materials Announces Dividend

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

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.