Lombard Odier Asset Management Switzerland SA Invests $1.75 Million in Martin Marietta Materials, Inc. $MLM

Lombard Odier Asset Management Switzerland SA acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,968 shares of the construction company’s stock, valued at approximately $1,747,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after buying an additional 836,120 shares in the last quarter. Bank of America Corp DE boosted its holdings in Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the period. Geode Capital Management LLC grew its stake in Martin Marietta Materials by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after buying an additional 10,743 shares in the last quarter. Morgan Stanley grew its stake in Martin Marietta Materials by 5.3% in the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock valued at $851,188,000 after buying an additional 68,382 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Martin Marietta Materials by 9.3% during the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock valued at $479,389,000 after acquiring an additional 65,623 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MLM. Wells Fargo & Company lifted their price target on Martin Marietta Materials from $614.00 to $616.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James Financial cut their target price on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Finally, Citigroup boosted their price objective on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Trading Up 2.4%

NYSE MLM opened at $573.11 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $576.33 and its two-hundred day simple moving average is $609.45. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97. The company has a market capitalization of $34.41 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.37 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.