IFM Investors Pty Ltd Grows Position in Martin Marietta Materials, Inc. $MLM

IFM Investors Pty Ltd boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,020 shares of the construction company’s stock after buying an additional 1,454 shares during the period. IFM Investors Pty Ltd’s holdings in Martin Marietta Materials were worth $7,665,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Douglass Winthrop Advisors LLC increased its stake in Martin Marietta Materials by 0.8% in the third quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock valued at $146,372,000 after purchasing an additional 1,939 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Martin Marietta Materials by 14,332.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after buying an additional 77,253 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of Martin Marietta Materials by 9.7% during the fourth quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock worth $27,527,000 after buying an additional 3,903 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Martin Marietta Materials by 141.3% during the third quarter. BNP Paribas Financial Markets now owns 117,872 shares of the construction company’s stock worth $74,292,000 after buying an additional 69,016 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Martin Marietta Materials by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock worth $259,344,000 after buying an additional 5,038 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 3.6%

MLM opened at $599.97 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The business has a 50 day simple moving average of $585.20 and a 200-day simple moving average of $617.03. The stock has a market capitalization of $36.03 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s payout ratio is presently 7.91%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings raised Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Citigroup lowered their target price on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company upped their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $681.94.

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.