According to the latest filings with the Securities and Exchange Commission, ) increased by 232.7% in the first quarter. The company now owns 5,765 of the stock of the construction firm after buying an additional 4,032 during the first quarter. Pacer Advisors Inc. held Martin Marietta Materials for $2,047,000 in its latest filing with the Securities and Exchange Commission.
Other hedge funds also changed their MLM positions. Quantitative Investment Management LLC purchased a new stake of approximately $451,000.00 in Martin Marietta Materials during the third quarter. BOKF increased its holdings in Martin Marietta Materials in the fourth quarter by 14.7%. BOKF NA owns 2,254 of the construction company’s stock, valued at $762,000. This is after purchasing an additional 289 share during the period. Canada Pension Plan Investment Board increased their position in Martin Marietta Materials in the third quarter by 30.1%. Canada Pension Plan Investment Board owns now 109,988 of the construction company stock valued at $35,426,000, after adding 25,460 additional shares. Belpointe Asset Management LLC increased its stake in Martin Marietta Materials during the third quarter by 38.1%. Belpointe Asset Management LLC owns 533 of the construction company stock, valued at $172,000, after purchasing 147 additional shares during the last quarter. Geode Capital Management LLC increased its holdings in Martin Marietta Materials during the fourth quarter by 2.0%. Geode Capital Management LLC owns now 1,259 007 shares worth $424 720,000 of the stock of the construction firm after adding 24,646 additional shares during the period. On Monday, the price of a share fell by $4.10 to $423.16. The company traded 378,753 more shares than its average of 369.287. The company's debt-to equity ratio is 0.60. Its current ratio is 2.12, and its quick ratio is 1.40. The 50-day moving price of the company is $382.25, and its 200 day moving price is $352.15
The last time ) released its quarterly results was on Thursday, 4th May. The construction company posted $2.16 in earnings per share for the third quarter, exceeding analysts' expectations of $0.99. Martin Marietta Materials' net margin was 15.39%, and its return on equity was 12.31%. The company had revenue of $1.3 billion in the third quarter, which was higher than analyst expectations of $1.27billion. In the same quarter of the year before, the company earned $0.39 per share. Revenue was up by 10.0% from the same quarter in last year. Analysts expect Martin Marietta Materials, Inc. to post 16.06 earnings per common share for this fiscal year.
Martin Marietta Materials Announces Dividend
A quarterly dividend was also announced by the firm, and will be paid out on Friday 30th June. Dividends will be paid to stockholders who were in the record books on June 1st. This dividend will be paid on Wednesday, May 31, 2019. Dividend yield is 0.62%. This dividend represents $2.64 in annualized dividends. Martin Marietta Materials has a dividend payout ratio of 17.04%.
Analysts set new price targets
Several research analysts recently made comments about the company. Goldman Sachs Group upgraded Martin Marietta Materials' rating from 'neutral to 'buy' and increased their price target from $420.00 up to $428.00. This was revealed in a report published on April 3rd. Loop Capital raised their price target for shares of Martin Marietta Materials in a research report on Friday, 5th May from $450.00 up to $475.00. JPMorgan Chase & Co. increased their price target on shares of Martin Marietta Materials in a research report on Friday, 5th May from $400.00 up to $450.00. In a report published on Thursday 18th May, we began covering Martin Marietta Materials. The stock was given a "hold" rating. Four equity research analysts have given the stock a hold and ten others have given it a buy. According to data from MarketBeat.com Martin Marietta Materials has a current consensus rating of "Moderate buy" and an average target price of $412.75.
Martin Marietta Materials Profile
Martin Marietta Materials, Inc provides aggregates such as crushed stone, sand, gravel, and sand through its network. It is divided into two geographical segments, East Group and West Group. The East group segments only offer aggregated products.
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