OMERS ADMINISTRATION Corp Makes New $3.73 Million Investment in Martin Marietta Materials, Inc. $MLM

OMERS ADMINISTRATION Corp purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,477 shares of the construction company’s stock, valued at approximately $3,735,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. CoreCap Advisors LLC increased its stake in shares of Martin Marietta Materials by 370.0% in the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Meeder Asset Management Inc. boosted its stake in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $31,000. Reflection Asset Management acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at approximately $37,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.1%

Shares of MLM opened at $532.58 on Wednesday. Martin Marietta Materials, Inc. has a 12-month low of $522.19 and a 12-month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.30 and a beta of 1.11. The stock’s 50-day moving average price is $567.14 and its 200 day moving average price is $593.72.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $5.43 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.6%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.16%.

Analyst Ratings Changes

Several brokerages have commented on MLM. 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. Citigroup lowered their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. DA Davidson assumed coverage on shares of Martin Marietta Materials in a research report on Monday. They set a “neutral” rating and a $625.00 target price on the stock. Truist Financial boosted their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada cut their target price on shares of Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating for the company in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $665.29.

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.