Osmosis Investment Management UK Ltd Buys Shares of 1,663 Martin Marietta Materials, Inc. $MLM

Osmosis Investment Management UK Ltd purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 2nd quarter, HoldingsChannel reports. The firm purchased 1,663 shares of the construction company’s stock, valued at approximately $959,000.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth about $2,706,134,000. Victory Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after buying an additional 836,120 shares during the period. Norges Bank bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $354,681,000. Bank of America Corp DE lifted its position in Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Martin Marietta Materials in the second quarter worth $199,321,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 0.4%

NYSE:MLM opened at $532.96 on Tuesday. Martin Marietta Materials, Inc. has a 12-month low of $522.19 and a 12-month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $32.01 billion, a P/E ratio of 13.09, a P/E/G ratio of 2.31 and a beta of 1.11. The stock’s fifty day simple moving average is $568.55 and its 200-day simple moving average is $594.70.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned $5.43 earnings per share. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 8.16%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley dropped their target price on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. JPMorgan Chase & Co. dropped their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Finally, Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a report on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $665.29.

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.