Magnetar Financial LLC Acquires 2,852 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Magnetar Financial LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 71.5% in the second quarter, HoldingsChannel.com reports. The firm owned 6,840 shares of the construction company’s stock after purchasing an additional 2,852 shares during the quarter. Magnetar Financial LLC’s holdings in Martin Marietta Materials were worth $3,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Advisory Services LLC boosted its holdings in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the period. Mather Group LLC. increased its stake in Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after acquiring an additional 20 shares during the last quarter. TFG Advisers LLC raised its position in Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after purchasing an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Martin Marietta Materials by 1.8% during the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Citigroup cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Loop Capital cut their target price 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. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Down 0.4 %

Shares of MLM opened at $546.29 on Monday. The stock has a market capitalization of $33.67 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The stock has a fifty day moving average of $540.85 and a 200-day moving average of $566.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.60 earnings per share. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal 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 represents a $3.16 dividend on an annualized basis and a yield of 0.58%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 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.