Y Intercept Hong Kong Ltd Takes $7.38 Million Position in Martin Marietta Materials, Inc. $MLM

Y Intercept Hong Kong Ltd bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the first quarter, Holdings Channel.com reports. The fund bought 12,532 shares of the construction company’s stock, valued at approximately $7,377,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after acquiring an additional 836,120 shares during the last quarter. Norges Bank purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth about $354,681,000. Bank of America Corp DE increased its position in shares of Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Martin Marietta Materials by 241.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after purchasing an additional 214,270 shares during the last quarter. Finally, Interval Partners LP acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $128,996,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research analyst reports. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company increased their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Citigroup lowered their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Truist Financial lifted their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Martin Marietta Materials in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $599.97 on Friday. The stock’s 50-day moving average price is $584.98 and its 200 day moving average price is $616.91. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $36.03 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.10. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.38 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

About Martin Marietta Materials

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.