Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 634.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,617 shares of the construction company’s stock after purchasing an additional 3,988 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Martin Marietta Materials were worth $2,385,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Personal Financial Services bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $33,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at about $35,000. Retirement Wealth Solutions LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at about $41,000. R Squared Ltd bought a new stake in Martin Marietta Materials in the 4th quarter valued at about $41,000. Finally, Larson Financial Group LLC bought a new stake in Martin Marietta Materials in the 3rd quarter valued at about $49,000. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MLM shares. Barclays cut their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Raymond James dropped their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Citigroup dropped their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Truist Financial dropped their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $490.60 on Tuesday. The firm’s 50 day moving average is $528.99 and its 200-day moving average is $546.80. The stock has a market capitalization of $29.99 billion, a P/E ratio of 15.17, a P/E/G ratio of 4.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a 12-month low of $482.72 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.77%.

About 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.