Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425 shares of the construction company’s stock after acquiring an additional 38 shares during the quarter. Wellington Management Group LLP’s holdings in Martin Marietta Materials were worth $229,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MLM. Wahed Invest LLC increased its holdings in shares of Martin Marietta Materials by 13.5% during the third quarter. Wahed Invest LLC now owns 1,487 shares of the construction company’s stock valued at $800,000 after purchasing an additional 177 shares during the period. Two Sigma Advisers LP increased its stake in Martin Marietta Materials by 4.8% during the 3rd quarter. Two Sigma Advisers LP now owns 57,300 shares of the construction company’s stock valued at $30,842,000 after buying an additional 2,600 shares during the period. Quantinno Capital Management LP raised its position in shares of Martin Marietta Materials by 8.1% during the 3rd quarter. Quantinno Capital Management LP now owns 11,386 shares of the construction company’s stock worth $6,129,000 after buying an additional 853 shares in the last quarter. Quarry LP acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter worth approximately $87,000. Finally, IHT Wealth Management LLC boosted its holdings in shares of Martin Marietta Materials by 13.9% in the third quarter. IHT Wealth Management LLC now owns 468 shares of the construction company’s stock valued at $252,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.5 %

NYSE:MLM opened at $533.69 on Friday. The stock has a market cap of $32.62 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $479.67 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock’s 50-day moving average is $579.84 and its two-hundred day moving average is $554.74.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.94 EPS. As a group, equities research analysts forecast 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 given a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. Martin Marietta Materials’s payout ratio is 9.85%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MLM. Jefferies Financial Group decreased their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley lowered their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays upped their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Loop Capital lifted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $653.08.

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.