State of Alaska Department of Revenue Acquires 395 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

State of Alaska Department of Revenue grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,099 shares of the construction company’s stock after acquiring an additional 395 shares during the quarter. State of Alaska Department of Revenue’s holdings in Martin Marietta Materials were worth $3,821,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC lifted its position in shares of Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares during the period. Inspire Investing LLC lifted its position in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after acquiring an additional 19 shares during the period. Mather Group LLC. lifted its position in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares during the period. TFG Advisers LLC lifted its position 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 acquiring an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its position in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after acquiring an additional 20 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MLM. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Loop Capital dropped their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. StockNews.com cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Citigroup dropped their target price 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. Finally, Stifel Nicolaus dropped their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $621.50.

Martin Marietta Materials Trading Up 3.6 %

MLM stock opened at $604.71 on Thursday. The business has a fifty day moving average price of $538.61 and a 200 day moving average price of $555.78. Martin Marietta Materials, Inc. has a fifty-two week low of $404.93 and a fifty-two week high of $626.67. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 4.62 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.

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 the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $5.60 earnings per share. Analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.79 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.60%.

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.