Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 16,164 shares of the construction company’s stock after buying an additional 441 shares during the period. Daiwa Securities Group Inc.’s holdings in Martin Marietta Materials were worth $8,700,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. boosted its stake in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC lifted its holdings in shares of 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 last quarter. First Personal Financial Services acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at $33,000. Fortitude Family Office LLC increased its stake in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $41,000. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on MLM shares. Citigroup dropped their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Morgan Stanley increased their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Barclays raised their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Loop Capital upped their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Price Performance

NYSE MLM opened at $603.84 on Tuesday. The company has a 50 day moving average price of $565.21 and a two-hundred day moving average price of $556.17. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The stock has a market capitalization of $36.91 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $6.94 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

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.