Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Asset Dedication LLC

Asset Dedication LLC raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1,300.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 56 shares of the construction company’s stock after acquiring an additional 52 shares during the period. Asset Dedication LLC’s holdings in Martin Marietta Materials were worth $30,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in Martin Marietta Materials during the first quarter worth about $22,265,000. BNP Paribas Financial Markets boosted its position in shares of Martin Marietta Materials by 182.5% in the first quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock worth $44,901,000 after acquiring an additional 47,250 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in Martin Marietta Materials in the second quarter valued at approximately $2,710,000. TD Asset Management Inc increased its position in Martin Marietta Materials by 4.4% during the first quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock worth $90,840,000 after purchasing an additional 6,263 shares during the last quarter. Finally, Dohj LLC purchased a new position in Martin Marietta Materials during the first quarter worth approximately $933,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.4 %

MLM opened at $573.45 on Friday. The firm has a market capitalization of $35.35 billion, a P/E ratio of 16.99, a P/E/G ratio of 3.68 and a beta of 0.91. The firm’s 50 day moving average is $532.05 and its 200-day moving average is $558.51. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its quarterly 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 during 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 company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $5.60 EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, September 3rd. 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%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MLM shares. Jefferies Financial Group dropped their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Stifel Nicolaus cut their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Loop Capital reduced their price target 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. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $619.36.

Martin Marietta Materials 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.