Amalgamated Bank Buys 139 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Amalgamated Bank lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.1% in the third quarter, Holdings Channel.com reports. The firm owned 12,625 shares of the construction company’s stock after buying an additional 139 shares during the period. Amalgamated Bank’s holdings in Martin Marietta Materials were worth $6,795,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its holdings in shares of Martin Marietta Materials by 10.6% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,200 shares of the construction company’s stock valued at $646,000 after acquiring an additional 115 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 8.2% in the third quarter. QRG Capital Management Inc. now owns 1,734 shares of the construction company’s stock worth $933,000 after buying an additional 132 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Martin Marietta Materials by 1.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 22,775 shares of the construction company’s stock worth $12,259,000 after buying an additional 222 shares during the period. National Pension Service raised its stake in shares of Martin Marietta Materials by 0.7% during the 3rd quarter. National Pension Service now owns 74,515 shares of the construction company’s stock valued at $40,108,000 after buying an additional 523 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its stake in shares of Martin Marietta Materials by 9.9% in the 3rd quarter. Intact Investment Management Inc. now owns 8,900 shares of the construction company’s stock valued at $4,790,000 after purchasing an additional 800 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 6.0 %

Shares of NYSE:MLM opened at $617.31 on Thursday. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 3.86 and a beta of 0.90. The company’s fifty day moving average is $545.48 and its two-hundred day moving average is $556.16. Martin Marietta Materials, Inc. has a 1-year low of $439.36 and a 1-year high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 EPS. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.95 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is currently 9.85%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Jefferies Financial Group cut their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Barclays increased their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Citigroup cut their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $626.92.

Martin Marietta Materials 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.