Intech Investment Management LLC Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Intech Investment Management LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,120 shares of the construction company’s stock after buying an additional 361 shares during the period. Intech Investment Management LLC’s holdings in Martin Marietta Materials were worth $2,218,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. increased its stake in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC grew its holdings in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services bought a new stake in Martin Marietta Materials during the third quarter valued at about $33,000. Fortitude Family Office LLC increased its position in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $41,000. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Stephens lowered their target price 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. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on 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. Finally, UBS Group assumed coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $597.81 on Monday. The firm has a fifty day simple moving average of $565.21 and a two-hundred day simple moving average of $556.45. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $36.54 billion, a P/E ratio of 18.63, a PEG ratio of 3.95 and a beta of 0.90. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $6.94 earnings per share. On average, analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

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.