Mesirow Financial Investment Management Inc. Buys 46 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mesirow Financial Investment Management Inc. lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 615 shares of the construction company’s stock after acquiring an additional 46 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Martin Marietta Materials were worth $331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Martin Marietta Materials by 247.5% during the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after acquiring an additional 106,002 shares during the last quarter. M&G Plc purchased a new position in shares of Martin Marietta Materials during the first quarter worth approximately $41,142,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Martin Marietta Materials by 682.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock worth $40,393,000 after acquiring an additional 65,454 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 1.5 %

Shares of NYSE:MLM opened at $606.84 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a 52-week low of $451.37 and a 52-week high of $633.23. The firm has a market capitalization of $37.09 billion, a P/E ratio of 18.91, a P/E/G ratio of 4.14 and a beta of 0.90. The stock has a 50 day moving average price of $550.70 and a 200-day moving average price of $556.45.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $6.94 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of several recent research reports. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Truist Financial dropped their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays lifted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Company Profile

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.