Oppenheimer & Co. Inc. Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Oppenheimer & Co. Inc. lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,316 shares of the construction company’s stock after purchasing an additional 46 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Martin Marietta Materials were worth $11,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after purchasing an additional 704,460 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after buying an additional 506,705 shares during the last quarter. FMR LLC increased its position in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after acquiring an additional 334,605 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Martin Marietta Materials by 7,608.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock worth $97,624,000 after acquiring an additional 179,020 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of a number of research analyst reports. Stephens reduced their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial reduced their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research note on Wednesday, December 11th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lowered their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $483.06 on Friday. The stock has a market cap of $29.52 billion, a P/E ratio of 14.94, 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 quick ratio of 1.40 and a current ratio of 2.50. The stock’s fifty day moving average is $527.00 and its 200 day moving average is $546.10. Martin Marietta Materials, Inc. has a one year low of $482.14 and a one year high of $633.23.

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

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.77%.

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.