Intech Investment Management LLC Acquires 223 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Intech Investment Management LLC increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,759 shares of the construction company’s stock after buying an additional 223 shares during the quarter. Intech Investment Management LLC’s holdings in Martin Marietta Materials were worth $2,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Ameritas Advisory Services LLC increased its holdings in shares of Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after acquiring an additional 18 shares in the last quarter. Mather Group LLC. lifted its stake 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 worth $90,000 after buying an additional 20 shares in the last quarter. TFG Advisers LLC increased its holdings in shares of Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after purchasing an additional 20 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its stake 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 valued at $368,000 after acquiring an additional 20 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of 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 acquiring an additional 21 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.2 %

Shares of MLM stock opened at $545.40 on Tuesday. The company has a market capitalization of $33.62 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The company’s fifty day moving average price is $540.62 and its 200-day moving average price is $566.21. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 13.85% and a net margin of 30.80%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $5.60 EPS. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS 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. Stockholders of record on Tuesday, September 3rd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. 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 payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MLM shares. Loop Capital lowered their price objective on shares of 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. Stifel Nicolaus dropped their price target 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. Morgan Stanley increased their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Jefferies Financial Group upped their price target 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. Finally, Citigroup dropped their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $629.82.

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.