Colonial River Investments LLC Boosts Holdings in Martin Marietta Materials, Inc. $MLM

Colonial River Investments LLC increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 186.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,358 shares of the construction company’s stock after acquiring an additional 884 shares during the quarter. Colonial River Investments LLC’s holdings in Martin Marietta Materials were worth $846,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Martin Marietta Materials by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after purchasing an additional 93,595 shares in the last quarter. Bank of America Corp DE lifted its holdings in Martin Marietta Materials by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock worth $1,491,136,000 after purchasing an additional 25,155 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after purchasing an additional 192,637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Martin Marietta Materials by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock worth $259,344,000 after purchasing an additional 5,038 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Martin Marietta Materials by 1.2% in the 3rd quarter. Raymond James Financial Inc. now owns 352,294 shares of the construction company’s stock worth $222,044,000 after purchasing an additional 4,071 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of research reports. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a research note on Monday, April 27th. Citigroup reduced their price objective on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Morgan Stanley reduced their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, UBS Group set a $739.00 price objective on Martin Marietta Materials in a research note on Sunday. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $689.81.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $590.75 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials, Inc. has a 1 year low of $532.80 and a 1 year high of $710.97. The stock’s 50 day simple moving average is $610.46 and its two-hundred day simple moving average is $627.35. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.15 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.27 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.