Renaissance Investment Group LLC Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Renaissance Investment Group LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,489 shares of the construction company’s stock after purchasing an additional 171 shares during the period. Martin Marietta Materials accounts for about 1.9% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 24th biggest position. Renaissance Investment Group LLC’s holdings in Martin Marietta Materials were worth $9,033,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have recently commented on MLM. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Barclays increased their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Price Performance

NYSE MLM opened at $543.33 on Friday. The company has a market cap of $33.21 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock’s fifty day moving average price is $555.95 and its 200 day moving average price is $550.97. Martin Marietta Materials, Inc. has a 1 year low of $490.05 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $6.94 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.6 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $0.79 per share. 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 payout ratio is 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.