Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 270.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,377 shares of the construction company’s stock after buying an additional 1,735 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Martin Marietta Materials were worth $1,459,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth $31,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $26,000. Finally, Benjamin Edwards Inc. boosted its holdings in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.5 %

Shares of NYSE MLM traded down $2.63 during midday trading on Tuesday, reaching $565.11. 433,218 shares of the company’s stock were exchanged, compared to its average volume of 433,682. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The stock has a market capitalization of $34.83 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 2.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The business’s fifty day moving average price is $557.86 and its two-hundred day moving average price is $563.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Analysts forecast that Martin Marietta Materials, Inc. will post 22.97 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Wall Street Analyst Weigh In

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

About Martin Marietta Materials

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.