GAMMA Investing LLC Grows Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

GAMMA Investing LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 973 shares of the construction company’s stock after purchasing an additional 155 shares during the period. GAMMA Investing LLC’s holdings in Martin Marietta Materials were worth $527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLM. Global Assets Advisory LLC purchased a new stake in Martin Marietta Materials in the first quarter valued at about $22,265,000. Cambridge Investment Research Advisors Inc. grew its position in Martin Marietta Materials by 25.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock worth $4,272,000 after purchasing an additional 1,728 shares during the last quarter. Brevan Howard Capital Management LP grew its position in Martin Marietta Materials by 49.7% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock worth $2,830,000 after purchasing an additional 1,882 shares during the last quarter. Simplicity Solutions LLC increased its stake in Martin Marietta Materials by 166.1% during the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock valued at $1,360,000 after purchasing an additional 1,701 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after buying an additional 69,701 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM traded down $16.64 on Friday, reaching $568.25. The stock had a trading volume of 402,907 shares, compared to its average volume of 545,928. The business’s 50-day moving average price is $555.74 and its two-hundred day moving average price is $568.11. The company has a market cap of $35.03 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $0.74 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.52%. Martin Marietta Materials’s payout ratio is 8.77%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Loop Capital cut their target price on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group increased their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Stifel Nicolaus decreased their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, The Goldman Sachs Group raised their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $628.91.

Martin Marietta Materials 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.