Fortitude Family Office LLC Increases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Fortitude Family Office LLC boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 60.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101 shares of the construction company’s stock after purchasing an additional 38 shares during the quarter. Fortitude Family Office LLC’s holdings in Martin Marietta Materials were worth $52,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its stake in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC lifted its stake in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the 3rd quarter worth $33,000. Larson Financial Group LLC purchased a new stake in Martin Marietta Materials in the 3rd quarter worth $49,000. Finally, Tobam lifted its stake in Martin Marietta Materials by 38.8% in the 3rd quarter. Tobam now owns 93 shares of the construction company’s stock worth $50,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $508.54 on Friday. 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 company has a market capitalization of $31.08 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.74 and a beta of 0.91. The company’s 50-day simple moving average is $563.58 and its two-hundred day simple moving average is $551.17. Martin Marietta Materials, Inc. has a one year low of $489.90 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.94 earnings per share. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.62%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research report on Wednesday. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Finally, Loop Capital upped their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $643.36.

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.