First Hawaiian Bank Has $2.50 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

First Hawaiian Bank grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 20.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,839 shares of the construction company’s stock after purchasing an additional 818 shares during the period. First Hawaiian Bank’s holdings in Martin Marietta Materials were worth $2,499,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after buying an additional 506,705 shares in the last quarter. FMR LLC lifted its position in shares of Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 worth $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after purchasing an additional 12,759 shares during the period. Finally, Franklin Resources Inc. raised its stake in Martin Marietta Materials by 1.9% in the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after purchasing an additional 9,908 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MLM. Jefferies Financial Group reduced their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a research report on Wednesday, December 11th. Loop Capital boosted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $643.36.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $517.31 on Thursday. The business has a 50 day moving average of $568.26 and a 200-day moving average of $551.88. The company has a market capitalization of $31.62 billion, a P/E ratio of 16.12, a P/E/G ratio of 3.74 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $488.30 and a 1 year 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.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business 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 company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.94 earnings per share. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

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.