Russell Investments Group Ltd. lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 24.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,250 shares of the construction company’s stock after acquiring an additional 9,233 shares during the period. Russell Investments Group Ltd. owned 0.07% of Martin Marietta Materials worth $21,256,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MLM. Fairfield Bush & CO. purchased a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $46,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Martin Marietta Materials by 4.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 391,276 shares of the construction company’s stock worth $150,599,000 after buying an additional 15,163 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Martin Marietta Materials by 0.4% in the 1st quarter. Yousif Capital Management LLC now owns 9,391 shares of the construction company’s stock worth $3,615,000 after buying an additional 40 shares during the last quarter. Prudential PLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $456,000. Finally, Cetera Investment Advisers grew its stake in shares of Martin Marietta Materials by 12.8% in the 1st quarter. Cetera Investment Advisers now owns 950 shares of the construction company’s stock worth $366,000 after buying an additional 108 shares during the last quarter. Institutional investors own 93.22% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on MLM shares. Truist Financial raised their price target on Martin Marietta Materials from $446.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Seaport Res Ptn upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 25th. Stephens raised their price target on Martin Marietta Materials from $525.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Raymond James raised their target price on Martin Marietta Materials from $490.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Finally, HSBC initiated coverage on Martin Marietta Materials in a report on Friday, September 15th. They issued a “reduce” rating and a $376.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $471.79.
Martin Marietta Materials Trading Down 1.5 %
Shares of Martin Marietta Materials stock opened at $455.21 on Tuesday. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.17 and a beta of 0.91. The business has a 50-day moving average price of $427.35 and a 200-day moving average price of $432.31. The company has a quick ratio of 1.60, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. Martin Marietta Materials, Inc. has a twelve month low of $317.94 and a twelve month high of $468.50.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.04 by $0.90. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Martin Marietta Materials had a return on equity of 14.89% and a net margin of 16.10%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $4.69 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 18.22 EPS for the current fiscal year.
Martin Marietta Materials Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.74 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.96 annualized dividend and a yield of 0.65%. Martin Marietta Materials’s dividend payout ratio is currently 17.18%.
About Martin Marietta Materials
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.
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