MML Investors Services LLC Has $677,000 Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

MML Investors Services LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 15.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,103 shares of the construction company’s stock after purchasing an additional 287 shares during the quarter. MML Investors Services LLC’s holdings in Martin Marietta Materials were worth $677,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MLM. JPMorgan Chase & Co. raised its stake in shares of Martin Marietta Materials by 25.5% in the second quarter. JPMorgan Chase & Co. now owns 2,483,093 shares of the construction company’s stock valued at $743,040,000 after purchasing an additional 504,794 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Martin Marietta Materials by 217.5% in the second quarter. Point72 Asset Management L.P. now owns 414,585 shares of the construction company’s stock valued at $124,060,000 after purchasing an additional 283,994 shares in the last quarter. Amundi grew its position in Martin Marietta Materials by 18.4% in the second quarter. Amundi now owns 1,007,676 shares of the construction company’s stock valued at $314,617,000 after acquiring an additional 156,354 shares during the period. Millennium Management LLC grew its position in Martin Marietta Materials by 131.8% in the second quarter. Millennium Management LLC now owns 272,452 shares of the construction company’s stock valued at $81,529,000 after acquiring an additional 154,923 shares during the period. Finally, Mawer Investment Management Ltd. grew its position in Martin Marietta Materials by 98.4% in the second quarter. Mawer Investment Management Ltd. now owns 292,953 shares of the construction company’s stock valued at $87,663,000 after acquiring an additional 145,307 shares during the period. 93.07% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 0.6 %

Shares of MLM opened at $365.62 on Monday. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.61. Martin Marietta Materials, Inc. has a 12-month low of $284.99 and a 12-month high of $406.85. The firm has a market capitalization of $22.71 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. The stock’s fifty day simple moving average is $353.71 and its 200-day simple moving average is $345.81.

Martin Marietta Materials (NYSE:MLM – Get Rating) last released its earnings results on Wednesday, February 15th. The construction company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.01. Martin Marietta Materials had a return on equity of 11.03% and a net margin of 14.07%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm posted $3.15 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 14.74 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Monday, March 6th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, March 3rd. Martin Marietta Materials’s payout ratio is 19.02%.

Analyst Ratings Changes

A number of brokerages have weighed in on MLM. Stifel Nicolaus upped their price target on Martin Marietta Materials from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, December 19th. JPMorgan Chase & Co. lowered their price target on Martin Marietta Materials from $410.00 to $395.00 in a research report on Thursday, December 8th. Atlantic Securities cut Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $375.00 to $350.00 in a research report on Tuesday, January 24th. Raymond James upped their price target on Martin Marietta Materials from $389.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Martin Marietta Materials in a report on Friday, February 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $404.50.

Martin Marietta Materials Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.