Strategic Financial Concepts LLC Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Strategic Financial Concepts LLC bought a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 98,771 shares of the construction company’s stock, valued at approximately $51,015,000.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in 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 period. FMR LLC boosted its stake in shares of Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of 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 acquiring an additional 704,460 shares during the period. Franklin Resources Inc. increased its stake in shares of Martin Marietta Materials by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after purchasing an additional 9,908 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings 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 worth $251,784,000 after purchasing an additional 164,503 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a report on Wednesday, January 8th. UBS Group started coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Raymond James reduced their price target on shares of 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. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Morgan Stanley reduced their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Trading Up 0.9 %

Shares of Martin Marietta Materials stock opened at $544.60 on Friday. The company has a market cap of $33.29 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 4.60 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $490.05 and a 1 year high of $633.23. The company’s fifty day simple moving average is $542.75 and its 200-day simple moving average is $550.50. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

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.