1,933 Shares in Martin Marietta Materials, Inc. $MLM Purchased by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,933 shares of the construction company’s stock, valued at approximately $1,204,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after acquiring an additional 93,595 shares during the period. Victory Capital Management Inc. grew its position in shares of Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after acquiring an additional 836,120 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Martin Marietta Materials by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock worth $1,491,136,000 after acquiring an additional 25,155 shares during the period. Geode Capital Management LLC increased its holdings in shares of Martin Marietta Materials by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock worth $963,406,000 after acquiring an additional 10,743 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Martin Marietta Materials by 5.3% in the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock worth $851,188,000 after acquiring an additional 68,382 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MLM shares. Truist Financial increased their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Weiss Ratings cut shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 8th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Raymond James Financial set a $690.00 price objective on shares of Martin Marietta Materials in a report on Monday, April 27th. Finally, Barclays dropped their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $588.64 on Tuesday. The firm has a 50-day moving average price of $589.29 and a 200 day moving average price of $618.77. The firm has a market capitalization of $35.35 billion, a PE ratio of 14.03, a P/E/G ratio of 2.45 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97.

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

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is currently 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.