Virtu Financial LLC Invests $2.98 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Virtu Financial LLC acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,527 shares of the construction company’s stock, valued at approximately $2,975,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its stake in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares during the period. Asset Dedication LLC increased its stake in shares of Martin Marietta Materials by 1,300.0% in the third 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 bought a new stake in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new stake in shares of Martin Marietta Materials during the 2nd quarter valued at approximately $43,000. Finally, Larson Financial Group LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth approximately $49,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Down 0.5 %

MLM stock opened at $560.43 on Thursday. The company has a market capitalization of $34.25 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 3.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a one year low of $474.92 and a one year high of $633.23. The company’s 50 day moving average price is $577.91 and its two-hundred day moving average price is $555.96.

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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business earned $6.94 EPS. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.56%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Analysts Set New Price Targets

MLM has been the topic of a number of analyst reports. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Barclays upped their price target 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. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a 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 $655.77.

About Martin Marietta Materials

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.