XTX Topco Ltd Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

XTX Topco Ltd boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 66.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,641 shares of the construction company’s stock after purchasing an additional 1,054 shares during the quarter. XTX Topco Ltd’s holdings in Martin Marietta Materials were worth $1,431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MLM. Price T Rowe Associates Inc. MD increased its stake in shares of Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after purchasing an additional 523,038 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Martin Marietta Materials by 4,244.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after buying an additional 270,802 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after acquiring an additional 69,701 shares during the last quarter. M&G Plc purchased a new position in shares of Martin Marietta Materials in the first quarter valued at approximately $41,142,000. Finally, 1832 Asset Management L.P. boosted its stake in shares of Martin Marietta Materials by 415,284.6% in the fourth quarter. 1832 Asset Management L.P. now owns 54,000 shares of the construction company’s stock worth $26,941,000 after acquiring an additional 53,987 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Loop Capital reduced their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley raised their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Stifel Nicolaus decreased their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Citigroup decreased their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Stock Down 0.4 %

NYSE MLM opened at $546.29 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $540.85 and its 200-day simple moving average is $567.21. The firm has a market cap of $33.67 billion, a PE ratio of 16.19, a P/E/G ratio of 3.52 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the firm earned $5.60 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.79 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is 9.36%.

Martin Marietta Materials Company 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.