Promus Capital LLC Makes New $132,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Promus Capital LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 256 shares of the construction company’s stock, valued at approximately $132,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MLM. Cullen Frost Bankers Inc. raised its holdings in shares of Martin Marietta Materials by 3.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,391 shares of the construction company’s stock worth $719,000 after purchasing an additional 42 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Martin Marietta Materials by 0.5% during the fourth quarter. Arizona State Retirement System now owns 17,752 shares of the construction company’s stock worth $9,169,000 after purchasing an additional 92 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of Martin Marietta Materials by 157.7% during the fourth quarter. Aigen Investment Management LP now owns 3,451 shares of the construction company’s stock worth $1,782,000 after purchasing an additional 2,112 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Martin Marietta Materials by 5.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,778 shares of the construction company’s stock worth $918,000 after purchasing an additional 89 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Martin Marietta Materials by 31.2% during the fourth quarter. Assetmark Inc. now owns 33,624 shares of the construction company’s stock worth $17,367,000 after purchasing an additional 7,991 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MLM. Stifel Nicolaus began coverage on shares of Martin Marietta Materials in a report on Tuesday. They set a “buy” rating and a $559.00 target price for the company. Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Stephens dropped their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, 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 report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $634.36.

Insider Activity

In other Martin Marietta Materials news, SVP Michael J. Petro purchased 550 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.68% of the company’s stock.

Martin Marietta Materials Stock Up 3.5 %

Shares of NYSE MLM opened at $478.30 on Thursday. The company’s 50-day simple moving average is $521.35 and its 200-day simple moving average is $544.16. Martin Marietta Materials, Inc. has a 52-week low of $447.21 and a 52-week high of $633.23. The firm has a market cap of $29.16 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

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.