Intech Investment Management LLC Increases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Intech Investment Management LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,120 shares of the construction company’s stock after purchasing an additional 361 shares during the period. Intech Investment Management LLC’s holdings in Martin Marietta Materials were worth $2,218,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its holdings in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC lifted its position in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in Martin Marietta Materials in the third quarter valued at approximately $33,000. Fortitude Family Office LLC boosted its stake in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Martin Marietta Materials in the first quarter worth $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM opened at $597.81 on Monday. The firm’s 50-day simple moving average is $565.21 and its two-hundred day simple moving average is $556.45. Martin Marietta Materials, Inc. has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The stock has a market cap of $36.54 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 3.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business earned $6.94 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLM. Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Citigroup reduced their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Barclays boosted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Truist Financial dropped their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.