Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7,608.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,373 shares of the construction company’s stock after acquiring an additional 179,020 shares during the quarter. Public Sector Pension Investment Board owned 0.30% of Martin Marietta Materials worth $97,624,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC raised its stake in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after buying an additional 19 shares in the last quarter. Mather Group LLC. raised its position in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after buying an additional 20 shares during the last quarter. TFG Advisers LLC lifted its stake in shares of Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after buying an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its position in Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after acquiring an additional 20 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLM. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Citigroup dropped their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Stephens decreased their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $515.00 to $640.00 in a research note on Wednesday. Finally, Jefferies Financial Group cut their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $644.46.

Martin Marietta Materials Trading Down 0.3 %

Shares of MLM stock opened at $595.35 on Thursday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The firm’s 50 day moving average price is $569.17 and its two-hundred day moving average price is $556.36. The stock has a market cap of $36.39 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $6.94 EPS. The business’s revenue was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.