102,083 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Acquired by M.D. Sass LLC

M.D. Sass LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,083 shares of the construction company’s stock, valued at approximately $54,946,000. Martin Marietta Materials makes up 4.1% of M.D. Sass LLC’s holdings, making the stock its 12th largest holding.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its position in Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after purchasing an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after buying an additional 11,749 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.8 %

NYSE MLM traded down $10.60 on Tuesday, reaching $593.40. The company had a trading volume of 58,877 shares, compared to its average volume of 445,792. 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 firm has a 50-day moving average of $566.69 and a 200-day moving average of $556.18. The firm has a market capitalization of $36.27 billion, a PE ratio of 18.82, a P/E/G ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share 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 firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company posted $6.94 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Loop Capital lifted their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group dropped their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Stephens dropped their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials 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.