OLD National Bancorp IN Acquires 21 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

OLD National Bancorp IN raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 483 shares of the construction company’s stock after purchasing an additional 21 shares during the quarter. OLD National Bancorp IN’s holdings in Martin Marietta Materials were worth $249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Inspire Investing LLC increased its position in shares of Martin Marietta Materials by 0.9% during the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after purchasing an additional 19 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Martin Marietta Materials by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after buying an additional 19 shares during the period. iA Global Asset Management Inc. increased its holdings in Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after buying an additional 20 shares during the last quarter. Brooklyn Investment Group raised its position in Martin Marietta Materials by 4.7% in the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock worth $231,000 after acquiring an additional 20 shares during the period. Finally, Financial Counselors Inc. boosted its stake in Martin Marietta Materials by 1.9% in the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after acquiring an additional 21 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the subject of several research reports. Morgan Stanley reduced their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. 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 note on Monday, January 6th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Raymond James reduced their price target on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $648.71.

Martin Marietta Materials Trading Down 0.4 %

Shares of MLM stock opened at $543.92 on Monday. The business has a 50-day moving average price of $546.41 and a two-hundred day moving average price of $550.93. Martin Marietta Materials, Inc. has a 12-month low of $490.05 and a 12-month high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market cap of $33.24 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 4.57 and a beta of 0.91.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 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.