Allspring Global Investments Holdings LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 39.1% during the 3rd quarter, Holdings Channel reports. The firm owned 7,010 shares of the construction company’s stock after purchasing an additional 1,972 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Martin Marietta Materials were worth $2,257,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Charter Oak Capital Management LLC bought a new position in shares of Martin Marietta Materials during the second quarter worth approximately $29,000. CX Institutional bought a new position in shares of Martin Marietta Materials during the second quarter worth approximately $31,000. Private Trust Co. NA bought a new position in shares of Martin Marietta Materials during the second quarter worth approximately $37,000. Clear Street Markets LLC increased its holdings in shares of Martin Marietta Materials by 407.7% during the second quarter. Clear Street Markets LLC now owns 132 shares of the construction company’s stock worth $39,000 after purchasing an additional 106 shares during the period. Finally, Fairfield Bush & CO. acquired a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $46,000. 93.07% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on MLM. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. StockNews.com began coverage on shares of Martin Marietta Materials in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley lowered shares of Martin Marietta Materials from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $409.00 to $399.00 in a research report on Wednesday, December 14th. DA Davidson reduced their price target on shares of Martin Marietta Materials from $395.00 to $385.00 in a research report on Wednesday, October 12th. Finally, Citigroup increased their price target on shares of Martin Marietta Materials from $385.00 to $406.00 in a research report on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $400.30.
Martin Marietta Materials Stock Performance
Martin Marietta Materials (NYSE:MLM – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The construction company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.05). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Martin Marietta Materials had a return on equity of 11.43% and a net margin of 13.59%. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 12.45 earnings per share for the current fiscal year.
Martin Marietta Materials Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.66 per share. The ex-dividend date was Wednesday, November 30th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.77%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 19.66%.
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.
- Get a free copy of the StockNews.com research report on Martin Marietta Materials (MLM)
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