Martin Marietta Materials, Inc. $MLM Shares Purchased by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.5% during the third quarter, HoldingsChannel reports. The firm owned 154,986 shares of the construction company’s stock after purchasing an additional 16,010 shares during the period. Martin Marietta Materials accounts for about 6.1% of Mcdonald Capital Investors Inc. CA’s holdings, making the stock its 6th largest position. Mcdonald Capital Investors Inc. CA’s holdings in Martin Marietta Materials were worth $74,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MLM. Generali Asset Management SPA SGR boosted its position in Martin Marietta Materials by 2.1% in the 3rd quarter. Generali Asset Management SPA SGR now owns 3,766 shares of the construction company’s stock valued at $1,807,000 after buying an additional 76 shares during the period. Asset Management One Co. Ltd. grew its stake in Martin Marietta Materials by 1.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 25,910 shares of the construction company’s stock worth $12,432,000 after acquiring an additional 470 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Martin Marietta Materials by 17.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,908 shares of the construction company’s stock worth $15,790,000 after acquiring an additional 4,975 shares in the last quarter. BG Investment Services LLC purchased a new position in shares of Martin Marietta Materials during the third quarter worth approximately $721,000. Finally, Citizens Financial Group Inc. RI increased its position in shares of Martin Marietta Materials by 11.4% during the third quarter. Citizens Financial Group Inc. RI now owns 1,452 shares of the construction company’s stock worth $697,000 after acquiring an additional 149 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MLM shares. Royal Bank Of Canada decreased their price target on shares of Martin Marietta Materials from $620.00 to $530.00 and set a “sector perform” rating for the company in a research note on Friday, October 9th. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Wells Fargo & Company dropped their price objective on Martin Marietta Materials from $585.00 to $579.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Zacks Research downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Finally, Raymond James Financial reduced their price objective on Martin Marietta Materials from $660.00 to $640.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Thirteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.65.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $504.57 on Wednesday. The firm has a 50-day simple moving average of $502.31 and a 200-day simple moving average of $577.99. Martin Marietta Materials, Inc. has a one year low of $464.92 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.43 earnings per share. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 16.29 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.84 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company’s primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.