Increase in Stake by 1832 Asset Management L.P. in Martin Marietta Materials, Inc. (NYSE:MLM) and Stock Analysis
Are you curious about the recent surge in institutional investment in Martin Marietta Materials, Inc. (NYSE:MLM)? Well, 1832 Asset Management L.P. increased its stake in the construction company by a whopping 415,284.6% in the 4th quarter, according to its latest disclosure with the SEC. This move saw the institutional investor owning 54,000 shares of Martin Marietta Materials, valued at $26,941,000. Other institutional investors like Tower Research Capital LLC TRC, Rafferty Asset Management LLC, NEOS Investment Management LLC, The Manufacturers Life Insurance Company, and California State Teachers Retirement System have also made significant additions to their stakes in the company.
Despite the increase in institutional ownership, Martin Marietta Materials stock experienced a 1.4% decline, trading down to $551.28 on Thursday. The company’s market cap stands at $33.98 billion, with a PE ratio of 16.55 and a beta of 0.93. The stock has a 1 year low of $389.90 and a high of $626.67. Martin Marietta Materials recently announced its quarterly earnings results, reporting $1.93 earnings per share for the quarter, surpassing analysts’ estimates. The company had a return on equity of 14.74% and a net margin of 31.35%.
In addition to its financial performance, Martin Marietta Materials also declared a quarterly dividend, set to be paid on June 28th. Shareholders of record on June 3rd will receive a $0.74 dividend, representing a $2.96 dividend on an annualized basis and a yield of 0.54%. The company’s dividend payout ratio is currently 8.77%.
Analysts have set new price targets for Martin Marietta Materials, with various research firms issuing ratings and price objectives for the stock. HSBC, Citigroup, The Goldman Sachs Group, JPMorgan Chase & Co., and Stephens are among the firms that have provided insights on the company’s performance and potential.
In terms of insider activity, EVP Roselyn R. Bar recently sold 10,000 shares of Martin Marietta Materials stock, further adding to the dynamics surrounding the company’s shares. With a detailed company profile and information on insider buying and selling, this blog post provides a comprehensive overview of the recent developments at Martin Marietta Materials.
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