17,600 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Acquired by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,600 shares of the construction company’s stock, valued at approximately $5,669,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilbert & Cook Inc. raised its position in Martin Marietta Materials by 2.9% during the 3rd quarter. Gilbert & Cook Inc. now owns 1,090 shares of the construction company’s stock valued at $352,000 after purchasing an additional 31 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management raised its position in Martin Marietta Materials by 0.4% during the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 7,880 shares of the construction company’s stock valued at $2,538,000 after purchasing an additional 33 shares in the last quarter. Eagle Bay Advisors LLC raised its position in Martin Marietta Materials by 17.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 248 shares of the construction company’s stock valued at $80,000 after purchasing an additional 36 shares in the last quarter. Park Avenue Securities LLC raised its position in Martin Marietta Materials by 2.4% during the 3rd quarter. Park Avenue Securities LLC now owns 1,568 shares of the construction company’s stock valued at $505,000 after purchasing an additional 37 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Martin Marietta Materials by 0.9% during the 1st quarter. Mackenzie Financial Corp now owns 4,120 shares of the construction company’s stock valued at $1,586,000 after purchasing an additional 38 shares in the last quarter. 93.07% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 3.2 %

Martin Marietta Materials stock opened at $320.60 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.39 and a current ratio of 1.99. The business’s 50-day simple moving average is $354.03 and its two-hundred day simple moving average is $344.87. The company has a market cap of $19.91 billion, a PE ratio of 23.10, a PEG ratio of 1.74 and a beta of 0.87. Martin Marietta Materials, Inc. has a fifty-two week low of $284.99 and a fifty-two week high of $406.85.

Martin Marietta Materials (NYSE:MLM – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The construction company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.53 billion. Martin Marietta Materials had a return on equity of 11.03% and a net margin of 14.07%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.15 EPS. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 14.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 6th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $2.64 annualized dividend and a yield of 0.82%. Martin Marietta Materials’s payout ratio is presently 19.02%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. DA Davidson boosted their price target on Martin Marietta Materials from $380.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. Atlantic Securities lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $375.00 to $350.00 in a research report on Tuesday, January 24th. JPMorgan Chase & Co. reduced their price target on Martin Marietta Materials from $410.00 to $395.00 in a research report on Thursday, December 8th. StockNews.com assumed coverage on Martin Marietta Materials in a research report on Thursday. They issued a “hold” rating for the company. Finally, Stifel Nicolaus boosted their price target on Martin Marietta Materials from $400.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $404.50.

Martin Marietta Materials Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.