CANADA LIFE ASSURANCE Co Purchases 734 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

CANADA LIFE ASSURANCE Co boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,070 shares of the construction company’s stock after buying an additional 734 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Martin Marietta Materials were worth $19,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of MLM. Lake Street Advisors Group LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $276,000. Bessemer Group Inc. raised its position 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 worth $2,868,000 after purchasing an additional 319 shares during the period. UniSuper Management Pty Ltd lifted its stake in Martin Marietta Materials by 270.2% in the first quarter. UniSuper Management Pty Ltd now owns 2,377 shares of the construction company’s stock worth $1,459,000 after purchasing an additional 1,735 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Martin Marietta Materials by 35.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock valued at $2,359,000 after buying an additional 1,003 shares during the period. Finally, Covestor Ltd grew its stake in shares of Martin Marietta Materials by 151.0% during the first quarter. Covestor Ltd now owns 256 shares of the construction company’s stock valued at $158,000 after buying an additional 154 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial boosted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus cut their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Loop Capital lowered their price target on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Jefferies Financial Group raised their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $617.33.

Martin Marietta Materials Stock Up 1.8 %

Shares of Martin Marietta Materials stock opened at $547.28 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company has a 50-day moving average of $555.68 and a 200 day moving average of $563.67. The firm has a market cap of $33.73 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.87 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

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.