National Pension Service Buys 523 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

National Pension Service raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,515 shares of the construction company’s stock after purchasing an additional 523 shares during the period. National Pension Service owned 0.12% of Martin Marietta Materials worth $40,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MLM. Newbridge Financial Services Group Inc. boosted its stake in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC boosted its stake in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Fortitude Family Office LLC grew its holdings in Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares during the last quarter. Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials in the 1st quarter worth about $41,000. Finally, Rothschild Investment LLC bought a new stake in Martin Marietta Materials in the second quarter worth about $43,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE MLM opened at $617.31 on Thursday. The company has a market cap of $37.73 billion, a PE ratio of 19.24, a P/E/G ratio of 3.86 and a beta of 0.90. Martin Marietta Materials, Inc. has a 52-week low of $439.36 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The firm’s 50 day moving average price is $545.48 and its 200-day moving average price is $556.16.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the business posted $6.94 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.95 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of analyst reports. Barclays upped their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Truist Financial reduced their target price 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. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Stephens decreased their price objective 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $626.92.

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.