Envestnet Asset Management Inc. raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,552 shares of the construction company’s stock after acquiring an additional 1,950 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Martin Marietta Materials were worth $4,445,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of MLM. Sun Life Financial INC increased its stake in shares of Martin Marietta Materials by 6,442.9% in the second quarter. Sun Life Financial INC now owns 458 shares of the construction company’s stock valued at $102,000 after buying an additional 451 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Martin Marietta Materials by 130.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 538 shares of the construction company’s stock valued at $120,000 after buying an additional 305 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at $128,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at $152,000. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Martin Marietta Materials in the second quarter valued at $187,000. 97.45% of the stock is owned by institutional investors.
Shares of Martin Marietta Materials, Inc. (MLM) traded down $1.55 during mid-day trading on Monday, reaching $212.55. The company had a trading volume of 76,936 shares, compared to its average volume of 638,467. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73. The firm has a market capitalization of $13,460.00, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12. Martin Marietta Materials, Inc. has a 1 year low of $191.09 and a 1 year high of $244.32.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $2.39 EPS for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). The firm had revenue of $1.02 million during the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. Martin Marietta Materials’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.49 earnings per share. analysts expect that Martin Marietta Materials, Inc. will post 6.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.76 dividend on an annualized basis and a yield of 0.83%. Martin Marietta Materials’s payout ratio is 25.66%.
A number of analysts have recently weighed in on the company. DA Davidson restated a “hold” rating and issued a $225.00 target price on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Zacks Investment Research upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, September 4th. Citigroup restated a “buy” rating and issued a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a research note on Monday, October 9th. Jefferies Group restated a “buy” rating and issued a $240.00 target price on shares of Martin Marietta Materials in a research note on Wednesday, October 11th. Finally, Bank of America lowered their target price on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Martin Marietta Materials currently has an average rating of “Hold” and an average target price of $242.43.
Martin Marietta Materials Profile
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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