Assenagon Asset Management S.A. Boosts Stock Position in Martin Marietta Materials, Inc. $MLM

Assenagon Asset Management S.A. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 29.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,501 shares of the construction company’s stock after acquiring an additional 5,304 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Martin Marietta Materials were worth $13,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optima Capital LLC bought a new stake in Martin Marietta Materials during the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Martin Marietta Materials during the third quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $31,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $36,000. Finally, Reflection Asset Management bought a new position in Martin Marietta Materials in the fourth quarter worth approximately $35,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $616.07 on Friday. The company has a market capitalization of $36.99 billion, a PE ratio of 14.68, a P/E/G ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a 50-day simple moving average of $587.99 and a two-hundred day simple moving average of $618.20. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released 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. The business 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 company’s revenue was up 17.2% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. Research analysts expect that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 7.91%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MLM shares. Citigroup decreased their target price on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Morgan Stanley lowered their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Royal Bank Of Canada cut their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Finally, Barclays lowered their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.

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.