Clarendon Private LLC Invests $383,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

Clarendon Private LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 742 shares of the construction company’s stock, valued at approximately $383,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Franklin Street Advisors Inc. NC boosted its stake in shares of Martin Marietta Materials by 15.5% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after buying an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Martin Marietta Materials by 18.5% in the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after purchasing an additional 1,286 shares in the last quarter. RMR Wealth Builders raised its stake in shares of Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after purchasing an additional 1,941 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $734,000. Finally, Benjamin Edwards Inc. grew its stake in shares of Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after buying an additional 1,322 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MLM. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Citigroup reduced their price target on 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 upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Raymond James dropped their price target on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $548.40 on Friday. 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, Inc. has a 12-month low of $490.05 and a 12-month high of $633.23. The company’s 50 day moving average price is $550.81 and its two-hundred day moving average price is $551.52. The firm has a market cap of $33.52 billion, a PE ratio of 17.09, a PEG ratio of 3.21 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts predict that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

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.