Martin Marietta Materials, Inc. (MLM) Holdings Raised by Mastrapasqua Asset Management Inc.
Mastrapasqua Asset Management Inc. raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,453 shares of the construction company’s stock after purchasing an additional 1,241 shares during the period. Martin Marietta Materials makes up about 1.4% of Mastrapasqua Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Mastrapasqua Asset Management Inc. owned about 0.05% of Martin Marietta Materials worth $6,899,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. BerganKDV Wealth Management LLC boosted its holdings in Martin Marietta Materials by 25.1% during the third quarter. BerganKDV Wealth Management LLC now owns 5,709 shares of the construction company’s stock worth $1,177,000 after purchasing an additional 1,146 shares during the last quarter. Ackerman Capital Advisors LLC bought a new position in Martin Marietta Materials during the second quarter worth about $325,000. Swiss National Bank increased its position in Martin Marietta Materials by 7.7% during the second quarter. Swiss National Bank now owns 230,250 shares of the construction company’s stock worth $51,249,000 after acquiring an additional 16,500 shares during the period. Victory Capital Management Inc. increased its position in Martin Marietta Materials by 10.9% during the third quarter. Victory Capital Management Inc. now owns 20,135 shares of the construction company’s stock worth $4,153,000 after acquiring an additional 1,982 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in Martin Marietta Materials by 4.1% during the second quarter. Greenwood Capital Associates LLC now owns 2,641 shares of the construction company’s stock worth $588,000 after acquiring an additional 105 shares during the period. 97.45% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. DA Davidson reaffirmed a “hold” rating and set a $225.00 price target on shares of Martin Marietta Materials in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Citigroup reissued a “buy” rating and issued a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. Jefferies Group reissued a “buy” rating and issued a $240.00 target price on shares of Martin Marietta Materials in a report on Wednesday, October 11th. Finally, Bank of America decreased their target price on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $242.43.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($0.06). The company had revenue of $1.02 million for the quarter, compared to the consensus estimate of $1.07 billion. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $2.49 earnings per share. equities research analysts forecast that Martin Marietta Materials, Inc. will post 6.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.66%.
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About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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