National Pension Service Raises Position in Martin Marietta Materials, Inc. $MLM

National Pension Service grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,607 shares of the construction company’s stock after purchasing an additional 3,787 shares during the quarter. National Pension Service owned approximately 0.15% of Martin Marietta Materials worth $55,172,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MLM. Atlantic Union Bankshares Corp increased its holdings in shares of Martin Marietta Materials by 321.8% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after buying an additional 2,912 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth $1,605,000. Pelham Capital Ltd. increased its holdings in shares of Martin Marietta Materials by 57.1% during the 3rd quarter. Pelham Capital Ltd. now owns 30,052 shares of the construction company’s stock worth $18,941,000 after buying an additional 10,917 shares during the last quarter. Border to Coast Pensions Partnership Ltd increased its holdings in shares of Martin Marietta Materials by 4.8% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 80,587 shares of the construction company’s stock worth $50,792,000 after buying an additional 3,721 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its holdings in shares of Martin Marietta Materials by 0.8% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock worth $146,372,000 after buying an additional 1,939 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MLM shares. Wells Fargo & Company upped their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Citigroup dropped their price objective on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a report on Monday, May 4th. UBS Group set a $739.00 price objective on Martin Marietta Materials in a report on Sunday, May 10th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings upgraded Martin Marietta Materials from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $689.81.

Martin Marietta Materials Stock Up 1.3%

Shares of NYSE MLM opened at $582.80 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a market cap of $35.00 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.11 and a beta of 1.13. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $590.95 and a 200 day moving average price of $621.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $1.90 EPS. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.