Martin Marietta Materials, Inc. $MLM Stake Lowered by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,759 shares of the construction company’s stock after selling 1,474 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of Martin Marietta Materials worth $19,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MLM. Schear Investment Advisers LLC increased its holdings in Martin Marietta Materials by 0.6% in the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock worth $1,721,000 after buying an additional 16 shares during the last quarter. Daymark Wealth Partners LLC lifted its stake in Martin Marietta Materials by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock valued at $283,000 after acquiring an additional 17 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Martin Marietta Materials by 2.9% in the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock valued at $407,000 after acquiring an additional 18 shares during the last quarter. Fiduciary Alliance LLC grew its position in Martin Marietta Materials by 2.6% in the fourth quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company’s stock worth $437,000 after acquiring an additional 18 shares in the last quarter. Finally, Vise Technologies Inc. increased its stake in shares of Martin Marietta Materials by 2.5% during the 3rd quarter. Vise Technologies Inc. now owns 731 shares of the construction company’s stock worth $461,000 after purchasing an additional 18 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent research reports. DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 12th. Loop Capital cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective for the company. in a report on Wednesday, January 28th. Barclays lowered their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $692.06.

Martin Marietta Materials Trading Up 0.1%

Shares of NYSE:MLM opened at $622.91 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The stock’s 50-day moving average is $626.20 and its 200-day moving average is $629.10. The company has a market cap of $37.54 billion, a P/E ratio of 33.13, a P/E/G ratio of 2.46 and a beta of 1.19. Martin Marietta Materials, Inc. has a 52-week low of $478.86 and a 52-week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.79 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is currently 17.66%.

About Martin Marietta Materials

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.