Choreo LLC Grows Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Choreo LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 56.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,218 shares of the construction company’s stock after purchasing an additional 1,159 shares during the quarter. Choreo LLC’s holdings in Martin Marietta Materials were worth $1,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the last quarter. FMR LLC raised its position in Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after purchasing an additional 334,605 shares during the last quarter. Principal Financial Group Inc. raised its position in Martin Marietta Materials by 76.2% in 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 purchasing an additional 704,460 shares during the last quarter. Franklin Resources Inc. raised its position in 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 during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position 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 valued at $251,784,000 after purchasing an additional 164,503 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MLM shares. Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Citigroup cut their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James cut their price objective 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. Finally, JPMorgan Chase & Co. upgraded shares of 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 report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $648.71.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $538.38 on Friday. The company has a market capitalization of $32.90 billion, a PE ratio of 16.78, a P/E/G ratio of 4.60 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52-week low of $490.05 and a 52-week high of $633.23. The company has a 50-day simple moving average of $541.73 and a 200-day simple moving average of $550.46. The company has a quick ratio of 1.24, a current ratio of 2.34 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.