Martin Marietta Materials, Inc. $MLM Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 27.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,529 shares of the construction company’s stock after acquiring an additional 1,196 shares during the period. Bessemer Group Inc.’s holdings in Martin Marietta Materials were worth $3,484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after purchasing an additional 565,856 shares during the period. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at $233,811,000. Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 9.6% during the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after buying an additional 192,637 shares in the last quarter. State Street Corp boosted its stake in Martin Marietta Materials by 2.0% during the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after buying an additional 56,353 shares in the last quarter. Finally, Shellback Capital LP acquired a new position in Martin Marietta Materials during the second quarter worth about $26,089,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 2.8%

Shares of NYSE MLM opened at $689.64 on Friday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $693.54. The firm has a market capitalization of $41.59 billion, a PE ratio of 36.35 and a beta of 1.16. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $640.15 and a two-hundred day moving average price of $622.45.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a $0.83 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.50%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MLM. JPMorgan Chase & Co. raised their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. UBS Group increased their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Citigroup lifted their price target on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Morgan Stanley increased their price objective on Martin Marietta Materials from $660.00 to $690.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Finally, Barclays raised their price objective on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $676.63.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.