Victory Capital Management Inc. Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Victory Capital Management Inc. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,031 shares of the construction company’s stock after purchasing an additional 246 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Martin Marietta Materials worth $19,394,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MLM. Avantax Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $276,000. O Shaughnessy Asset Management LLC grew its stake in Martin Marietta Materials by 35.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock valued at $2,359,000 after acquiring an additional 1,003 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in Martin Marietta Materials by 270.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,377 shares of the construction company’s stock valued at $1,459,000 after acquiring an additional 1,735 shares during the last quarter. Bessemer Group Inc. grew its stake in Martin Marietta Materials by 7.3% in the 1st quarter. Bessemer Group Inc. now owns 4,670 shares of the construction company’s stock valued at $2,868,000 after acquiring an additional 319 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $276,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.2 %

Shares of MLM stock opened at $581.64 on Tuesday. Martin Marietta Materials, Inc. has a 1-year low of $451.37 and a 1-year high of $633.23. The firm’s 50-day simple moving average is $557.57 and its 200-day simple moving average is $556.43. 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 firm has a market cap of $35.55 billion, a P/E ratio of 18.17, a PEG ratio of 3.90 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS 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 during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $6.94 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.54%. Martin Marietta Materials’s payout ratio is 9.85%.

Analyst Ratings Changes

MLM has been the topic of a number of research reports. Barclays increased their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group decreased their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Stephens decreased 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 note on Friday, August 9th. Finally, Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.