Mirae Asset Global Investments Co. Ltd. Has $4.23 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,846 shares of the construction company’s stock after purchasing an additional 635 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Martin Marietta Materials were worth $4,230,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in Martin Marietta Materials by 182.5% during the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after purchasing an additional 47,250 shares during the period. Peak Financial Advisors LLC acquired a new position in Martin Marietta Materials during the 2nd quarter valued at about $2,710,000. TD Asset Management Inc lifted its position in Martin Marietta Materials by 4.4% during the 1st quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock valued at $90,840,000 after purchasing an additional 6,263 shares during the period. Russell Investments Group Ltd. lifted its position in Martin Marietta Materials by 8.1% during the 1st quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company’s stock valued at $45,545,000 after purchasing an additional 5,576 shares during the period. Finally, M&G Plc acquired a new position in Martin Marietta Materials during the 1st quarter valued at about $41,142,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 1.0 %

Shares of NYSE MLM opened at $583.88 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials, Inc. has a 52 week low of $398.59 and a 52 week high of $626.67. The stock has a market capitalization of $35.68 billion, a P/E ratio of 17.75, a PEG ratio of 4.62 and a beta of 0.91. The stock’s fifty day moving average is $537.67 and its 200 day moving average is $555.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business posted $5.60 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is currently 9.60%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MLM. Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Stephens cut their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $621.50.

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.