BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 4,441 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 60.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,820 shares of the construction company’s stock after purchasing an additional 4,441 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Martin Marietta Materials were worth $6,404,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MLM. Ameritas Advisory Services LLC grew its stake in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after buying an additional 18 shares during the last quarter. Mather Group LLC. grew its position in shares of Martin Marietta Materials by 13.6% in the second 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 last quarter. TFG Advisers LLC increased its stake in shares of Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after purchasing an additional 20 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in Martin Marietta Materials by 3.0% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after purchasing an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Martin Marietta Materials by 1.8% in 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. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $539.63 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. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The stock has a market capitalization of $32.98 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. The stock has a fifty day moving average of $538.74 and a 200-day moving average of $565.39.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results 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 for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.60 EPS. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, September 3rd. This is a boost 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 equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup decreased their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Truist Financial reduced their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Morgan Stanley lifted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

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.