Edgestream Partners L.P. Acquires New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Edgestream Partners L.P. acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,952 shares of the construction company’s stock, valued at approximately $1,781,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLM. Steward Partners Investment Advisory LLC lifted its stake in shares of Martin Marietta Materials by 10.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,416 shares of the construction company’s stock valued at $545,000 after purchasing an additional 135 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Martin Marietta Materials by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 8,325 shares of the construction company’s stock valued at $3,204,000 after purchasing an additional 88 shares during the period. Metis Global Partners LLC lifted its stake in shares of Martin Marietta Materials by 81.0% in the first quarter. Metis Global Partners LLC now owns 988 shares of the construction company’s stock valued at $380,000 after purchasing an additional 442 shares during the period. Arizona State Retirement System increased its holdings in Martin Marietta Materials by 2.2% during the 1st quarter. Arizona State Retirement System now owns 17,364 shares of the construction company’s stock valued at $6,683,000 after acquiring an additional 381 shares in the last quarter. Finally, Versor Investments LP increased its holdings in Martin Marietta Materials by 34.2% during the 1st quarter. Versor Investments LP now owns 1,506 shares of the construction company’s stock valued at $580,000 after acquiring an additional 384 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of several recent research reports. BNP Paribas upgraded shares of Martin Marietta Materials from a “neutral” rating to an “outperform” rating and set a $407.00 target price for the company in a report on Tuesday, September 20th. TheStreet upgraded shares of Martin Marietta Materials from a “c+” rating to a “b-” rating in a report on Wednesday, August 10th. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $420.00 to $409.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Raymond James dropped their target price on shares of Martin Marietta Materials from $410.00 to $380.00 in a report on Sunday, November 6th. Finally, Exane BNP Paribas upgraded shares of Martin Marietta Materials from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 20th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.33.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $365.32 on Thursday. The company has a market cap of $22.68 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.99 and a beta of 0.85. Martin Marietta Materials, Inc. has a 12 month low of $284.99 and a 12 month high of $446.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.01 and a quick ratio of 1.43. The company has a 50-day simple moving average of $331.92 and a 200-day simple moving average of $333.11.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.64 dividend on an annualized basis and a yield of 0.72%. Martin Marietta Materials’s payout ratio is 19.66%.

Martin Marietta Materials Company Profile

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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.

See Also

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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