TD Asset Management Inc Lowers Holdings in Martin Marietta Materials, Inc. $MLM

TD Asset Management Inc reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,199 shares of the construction company’s stock after selling 8,469 shares during the period. TD Asset Management Inc owned approximately 0.17% of Martin Marietta Materials worth $65,044,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MLM. Quent Capital LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth $32,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 2nd quarter worth $28,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at $33,000. Finally, NewSquare Capital LLC grew its position in Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MLM shares. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a research note on Wednesday, January 28th. B. Riley Financial started coverage on Martin Marietta Materials in a report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective on the stock. Royal Bank Of Canada restated a “sector perform” rating and issued a $630.00 target price on shares of Martin Marietta Materials in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Finally, UBS Group increased their price target on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Hold” and a consensus target price of $695.63.

Martin Marietta Materials Stock Up 0.8%

MLM opened at $678.83 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $656.08 and its 200-day moving average price is $631.04. The company has a market cap of $40.94 billion, a P/E ratio of 36.11, a P/E/G ratio of 2.59 and a beta of 1.16.

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

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.66%.

Martin Marietta Materials Profile

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.