TD Asset Management Inc Increases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

TD Asset Management Inc raised its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 152,914 shares of the construction company’s stock after acquiring an additional 4,951 shares during the quarter. TD Asset Management Inc’s holdings in Martin Marietta Materials were worth $82,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MLM. Simon Quick Advisors LLC raised its stake in shares of Martin Marietta Materials by 21.1% in the second quarter. Simon Quick Advisors LLC now owns 4,804 shares of the construction company’s stock valued at $2,603,000 after acquiring an additional 836 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Martin Marietta Materials by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 5,298 shares of the construction company’s stock valued at $2,870,000 after buying an additional 22 shares during the period. Chilton Capital Management LLC grew its position in shares of Martin Marietta Materials by 6,950.0% during the second quarter. Chilton Capital Management LLC now owns 141 shares of the construction company’s stock worth $76,000 after buying an additional 139 shares in the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Martin Marietta Materials during the second quarter worth approximately $5,418,000. Finally, D.A. Davidson & CO. raised its holdings in Martin Marietta Materials by 11.0% in the second quarter. D.A. Davidson & CO. now owns 11,922 shares of the construction company’s stock valued at $6,459,000 after acquiring an additional 1,180 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 0.7 %

Shares of Martin Marietta Materials stock opened at $502.48 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The company has a market capitalization of $30.97 billion, a P/E ratio of 14.89, a PEG ratio of 3.57 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company’s fifty day moving average is $544.36 and its two-hundred day moving average is $570.01.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $5.60 EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 20.01 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.63%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of brokerages have commented on MLM. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Loop Capital cut their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Jefferies Financial Group upped their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Stephens lowered their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $629.82.

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.