Martin Marietta Materials, Inc.

(New York Stock Exchange)
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Slightly Bullish +25

Assenagon Asset Management S.A. Boosts Stock Position in Martin ...

AI-generated analysis

πŸ“ˆ Assenagon Asset Management raised its holdings in Martin Marietta Materials by 29.1% in Q1, adding 5,304 shares to reach a total position of 23,501 shares.

πŸ’° The fund's stake in MLM is valued at $13,835,000 as per the latest SEC filing with the Securities & Exchange Commission.

🏦 Institutional ownership stands at 95.04%, with several other firms like Optima Capital LLC and KERR FINANCIAL PLANNING Corp adding new stakes worth approximately $169,000 combined.

πŸ“Š Martin Marietta Materials has a market cap of $36.99 billion, a P/E ratio of 14.68, and a beta of 1.10 indicating moderate volatility relative to the market.

πŸ’΅ The company declared a quarterly dividend of $0.83 per share with an ex-dividend date of Monday, June 1st, representing a 0.5% yield.

πŸ“‰ Citigroup lowered its price target from $804.00 to $731.00 but maintained a buy rating in a report dated May 4th.

πŸ“‰ Wall Street Zen downgraded the stock from hold to sell on June 6th, while Morgan Stanley and Barclays maintained overweight ratings despite lowering price targets.

πŸ“ˆ The consensus analyst rating is Moderate Buy with a collective target price of $681.94 according to MarketBeat.com data.

πŸ—οΈ Martin Marietta Materials operates quarries and extraction sites to supply crushed stone, sand, gravel, asphalt, and ready-mixed concrete for construction projects.

Bullish Signals
  • Assenagon Asset Management significantly increased its stake by 29.1% in Q1, signaling strong institutional confidence in the company's long-term prospects.
  • The stock maintains a high level of institutional ownership at 95.04%, suggesting broad market interest and stability.
  • Martin Marietta Materials offers a consistent dividend payout with a yield of 0.5% and a low payout ratio of 7.91%, indicating room for future growth in dividends.
Risk Factors
  • Wall Street Zen downgraded the stock from hold to sell, reflecting concerns about current valuation or near-term performance.
  • Multiple major banks including Citigroup, Morgan Stanley, Royal Bank Of Canada, and Barclays have recently lowered their price targets on the stock.
  • The consensus target price of $681.94 is below the recent trading range high of $710.97, suggesting some analysts see limited upside in the short term.
Full Analysis
Assenagon Asset Management S.A. increased its position in Martin Marietta Materials, Inc. (NYSE: MLM) by 29.1% during the first quarter, acquiring an additional 5,304 shares to hold a total of 23,501 shares valued at $13.835 million according to recent SEC filings. Several other institutional investors and hedge funds have also adjusted their stakes in the company, with new positions or additions totaling approximately $169,000 from firms including Optima Capital LLC, KERR FINANCIAL PLANNING Corp, and Union Bancaire Privee UBP SA during the third and fourth quarters. The article provides detailed financial metrics for Martin Marietta Materials, noting a market capitalization of $36.99 billion, a P/E ratio of 14.68, and a dividend yield of 0.5%. The company recently declared a quarterly dividend of $0.83 per share payable on June 30th to stockholders of record as of June 1st. Wall Street analysts have issued mixed signals regarding the stock's future performance, with Citigroup lowering its target price to $731 while maintaining a buy rating, and Wall Street Zen downgrading the stock from hold to sell. The consensus rating remains Moderate Buy with a target price of $681.94.