Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 474 shares of the construction company’s stock after purchasing an additional 39 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Martin Marietta Materials were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Martin Marietta Materials by 247.5% in the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after buying an additional 106,002 shares during the period. Assenagon Asset Management S.A. boosted its stake in Martin Marietta Materials by 682.5% during the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock valued at $40,393,000 after buying an additional 65,454 shares in the last quarter. Finally, KBC Group NV raised its position in Martin Marietta Materials by 607.4% in the third quarter. KBC Group NV now owns 75,377 shares of the construction company’s stock worth $40,572,000 after acquiring an additional 64,722 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Price Performance

NYSE MLM opened at $597.81 on Monday. Martin Marietta Materials, Inc. has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The stock’s 50-day moving average is $565.21 and its two-hundred day moving average is $556.45. The firm has a market cap of $36.54 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share 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 during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business posted $6.94 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

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.