Fortitude Family Office LLC Acquires 38 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Fortitude Family Office LLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 60.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 101 shares of the construction company’s stock after buying an additional 38 shares during the period. Fortitude Family Office LLC’s holdings in Martin Marietta Materials were worth $52,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC lifted its position in Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after acquiring an additional 1,286 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in Martin Marietta Materials during the third quarter valued at approximately $734,000. Benjamin Edwards Inc. lifted its position in Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after acquiring an additional 1,322 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Martin Marietta Materials by 8.5% in the third quarter. D.A. Davidson & CO. now owns 12,936 shares of the construction company’s stock worth $6,963,000 after buying an additional 1,014 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Martin Marietta Materials by 158.2% in the third quarter. National Bank of Canada FI now owns 43,952 shares of the construction company’s stock worth $23,657,000 after buying an additional 26,929 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MLM shares. Barclays raised their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Jefferies Financial Group decreased their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Citigroup decreased their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $643.36.

Martin Marietta Materials Stock Down 1.7 %

MLM stock opened at $508.54 on Friday. The firm has a market cap of $31.08 billion, a PE ratio of 15.85, a P/E/G ratio of 3.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The firm’s fifty day moving average is $563.58 and its 200 day moving average is $551.17. Martin Marietta Materials, Inc. has a one year low of $489.90 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm had revenue of $1.89 billion for 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 business posted $6.94 EPS. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.62%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

About Martin Marietta Materials

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.