Asset Management One Co. Ltd. Purchases 222 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Asset Management One Co. Ltd. grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,775 shares of the construction company’s stock after buying an additional 222 shares during the period. Asset Management One Co. Ltd.’s holdings in Martin Marietta Materials were worth $12,259,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after purchasing an additional 523,038 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Martin Marietta Materials by 247.5% during the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after purchasing an additional 106,002 shares during the period. M&G Plc bought a new stake in shares of Martin Marietta Materials in the first quarter valued at approximately $41,142,000. Assenagon Asset Management S.A. grew its position in Martin Marietta Materials by 682.5% during the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock worth $40,393,000 after buying an additional 65,454 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Martin Marietta Materials by 46,996.7% during the 3rd quarter. International Assets Investment Management LLC now owns 56,516 shares of the construction company’s stock worth $30,420,000 after acquiring an additional 56,396 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MLM shares. Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Citigroup reduced 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 research note on Monday, August 12th. 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. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Truist Financial lowered their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $626.92.

Martin Marietta Materials Trading Up 6.0 %

Shares of MLM stock opened at $617.31 on Thursday. Martin Marietta Materials, Inc. has a twelve month low of $439.36 and a twelve month high of $633.23. The stock’s fifty day simple moving average is $545.48 and its 200 day simple moving average is $556.16. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $37.73 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.86 and a beta of 0.90.

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

Martin Marietta Materials Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.