Bank of Montreal Can Acquires 1,622 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of Montreal Can raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 52,647 shares of the construction company’s stock after buying an additional 1,622 shares during the quarter. Bank of Montreal Can’s holdings in Martin Marietta Materials were worth $28,383,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. boosted its holdings in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC boosted its stake in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at about $33,000. Fortitude Family Office LLC increased its position in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials in the first quarter worth about $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MLM shares. Citigroup reduced their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group reduced their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Stephens lowered their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $644.46.

Martin Marietta Materials Trading Up 0.7 %

Shares of NYSE:MLM opened at $600.00 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 1 year low of $456.83 and a 1 year high of $633.23. The company has a market cap of $36.67 billion, a P/E ratio of 18.70, a PEG ratio of 4.04 and a beta of 0.90. The stock’s fifty day moving average price is $571.19 and its 200-day moving average price is $556.57.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $6.94 EPS. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced 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. This represents a $3.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 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.