Royal London Asset Management Ltd. Buys 2,045 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Royal London Asset Management Ltd. boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,521 shares of the construction company’s stock after purchasing an additional 2,045 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Martin Marietta Materials were worth $6,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC raised its stake in Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the period. Mather Group LLC. raised its stake in Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares during the period. TFG Advisers LLC raised its stake in Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares during the period. Parallel Advisors LLC raised its stake in Martin Marietta Materials by 1.8% during the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares during the period. Finally, Pitcairn Co. raised its stake in Martin Marietta Materials by 5.0% during the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after purchasing an additional 21 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MLM shares. Loop Capital decreased their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Truist Financial reduced their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus reduced their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Citigroup reduced their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $520.68 on Friday. The company has a market cap of $32.09 billion, a P/E ratio of 15.43, a P/E/G ratio of 3.52 and a beta of 0.91. 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 business’s 50 day moving average price is $541.32 and its 200-day moving average price is $568.62. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $5.60 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is 9.36%.

About Martin Marietta Materials

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.