M&G Plc Has $35.96 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

by · The Markets Daily

M&G Plc grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,840 shares of the construction company’s stock after purchasing an additional 3,311 shares during the quarter. M&G Plc owned about 0.11% of Martin Marietta Materials worth $35,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ameritas Advisory Services LLC boosted its stake in shares of Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares during the period. Inspire Investing LLC boosted its stake in shares of Martin Marietta Materials by 0.9% during the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after acquiring an additional 19 shares during the period. Mather Group LLC. boosted its stake in shares of Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares during the period. TFG Advisers LLC boosted its stake in shares of Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after acquiring an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its stake in shares of Martin Marietta Materials by 3.0% during the 2nd 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 period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $617.31 on Thursday. The stock has a market capitalization of $37.73 billion, a PE ratio of 19.24, a P/E/G ratio of 3.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The business has a fifty day moving average price of $545.48 and a two-hundred day moving average price of $556.16. Martin Marietta Materials, Inc. has a fifty-two week low of $439.36 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.94 earnings per share. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is 9.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on MLM shares. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Loop Capital boosted their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stephens reduced their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Morgan Stanley boosted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Barclays boosted their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $626.92.

Check Out Our Latest Research Report on Martin Marietta Materials

Martin Marietta Materials Company Profile

(Free Report)

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.

Further Reading