Edgestream Partners L.P. grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 170.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,354 shares of the construction company's stock after acquiring an additional 2,112 shares during the quarter. Edgestream Partners L.P.'s holdings in Martin Marietta Materials were worth $1,805,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MLM. Kovack Advisors Inc. purchased a new stake in Martin Marietta Materials during the third quarter worth approximately $734,000. Peak Financial Advisors LLC acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at $2,710,000. Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock worth $252,318,000 after purchasing an additional 11,749 shares in the last quarter. D.A. Davidson & CO. boosted its position 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 period. Finally, ING Groep NV acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at about $1,601,000. Institutional investors and hedge funds own 95.04% of the company's stock.
Shares of MLM stock opened at $588.86 on Wednesday. The company has a market cap of $35.99 billion, a P/E ratio of 18.35, a PEG ratio of 4.02 and a beta of 0.89. The business has a 50 day moving average of $573.20 and a two-hundred day moving average of $555.97. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.
Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $6.94 EPS. The company's revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.
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 issued a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.
MLM has been the topic of several analyst reports. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $730.00 price target on the stock. Barclays boosted their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. BNP Paribas upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and increased their target price for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. Finally, Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $644.46.
Check Out Our Latest Research Report on 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.
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