Norden Group LLC Purchases New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Norden Group LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,400 shares of the construction company’s stock, valued at approximately $2,089,000.

A number of other hedge funds also recently modified their holdings of MLM. Norges Bank acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at $308,705,000. Balyasny Asset Management L.P. raised its position in Martin Marietta Materials by 4,244.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after purchasing an additional 270,802 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Martin Marietta Materials by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after purchasing an additional 181,136 shares during the period. Corient Private Wealth LLC boosted its holdings in Martin Marietta Materials by 306.8% during the fourth quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock valued at $80,668,000 after purchasing an additional 121,941 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Martin Marietta Materials by 96.6% in the 4th quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock valued at $78,780,000 after purchasing an additional 77,596 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.3 %

NYSE MLM opened at $533.32 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The stock has a market capitalization of $32.87 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.91. The stock has a fifty day moving average of $569.49 and a 200-day moving average of $557.45.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $2.16 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 23.1 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.56%. Martin Marietta Materials’s dividend payout ratio is 8.77%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLM. Citigroup boosted their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. The Goldman Sachs Group upped their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Truist Financial boosted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $610.25.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.