Mackenzie Financial Corp Has $3.70 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Mackenzie Financial Corp increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 32.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,825 shares of the construction company’s stock after acquiring an additional 1,691 shares during the period. Mackenzie Financial Corp’s holdings in Martin Marietta Materials were worth $3,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLM. Riverview Trust Co bought a new position in Martin Marietta Materials during the first quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at $31,000. Fortitude Family Office LLC grew its position in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials during the first quarter worth $41,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MLM shares. Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Stephens cut 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 research note on Friday, August 9th. Citigroup dropped their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, 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 report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Down 0.6 %

Shares of NYSE MLM opened at $534.98 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $32.98 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. The firm’s 50-day moving average is $537.75 and its 200-day moving average is $563.97. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates 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%. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.60 EPS. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Martin Marietta Materials Company 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.