2,494 Shares in Martin Marietta Materials, Inc. $MLM Acquired by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,494 shares of the construction company’s stock, valued at approximately $1,438,000.

Several other hedge funds have also recently added to or reduced their stakes in MLM. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Martin Marietta Materials by 14,332.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after acquiring an additional 77,253 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at $18,636,000. Victory Capital Management Inc. raised its position in shares of Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Martin Marietta Materials by 4.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after buying an additional 5,227 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Martin Marietta Materials by 11.2% in the 4th quarter. Stephens Inc. AR now owns 51,326 shares of the construction company’s stock valued at $31,958,000 after acquiring an additional 5,150 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.1%

Shares of MLM stock opened at $535.28 on Monday. The stock’s 50 day simple moving average is $569.66 and its 200 day simple moving average is $595.62. Martin Marietta Materials, Inc. has a twelve month low of $522.19 and a twelve month high of $710.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.31 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company posted $5.43 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a $0.84 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 8.16%.

Wall Street Analyst Weigh In

MLM has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Wolfe Research set a $648.00 price target on Martin Marietta Materials in a report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their price target on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Wells Fargo & Company reduced their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Finally, UBS Group decreased their target price on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $668.53.

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.