Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 7,608.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 181,373 shares of the construction company’s stock after acquiring an additional 179,020 shares during the quarter. Public Sector Pension Investment Board’s holdings in Martin Marietta Materials were worth $97,624,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. FORA Capital LLC increased its position in shares of Martin Marietta Materials by 4.2% during the third quarter. FORA Capital LLC now owns 11,386 shares of the construction company’s stock worth $6,129,000 after acquiring an additional 460 shares during the last quarter. Blueshift Asset Management LLC grew its stake in Martin Marietta Materials by 22.1% during the 3rd quarter. Blueshift Asset Management LLC now owns 1,024 shares of the construction company’s stock valued at $551,000 after purchasing an additional 185 shares in the last quarter. Townsquare Capital LLC increased its holdings in Martin Marietta Materials by 16.3% during the 3rd quarter. Townsquare Capital LLC now owns 3,650 shares of the construction company’s stock worth $1,965,000 after purchasing an additional 511 shares during the last quarter. M.D. Sass LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $54,946,000. Finally, Quantbot Technologies LP purchased a new position in shares of Martin Marietta Materials during the 3rd quarter valued at approximately $611,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MLM. Truist Financial dropped their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup reduced their price target 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. Stephens decreased their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $644.46.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $595.35 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The firm has a market capitalization of $36.39 billion, a PE ratio of 18.55, a P/E/G ratio of 4.10 and a beta of 0.90. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23. The business’s fifty day moving average price is $569.17 and its two-hundred day moving average price is $556.36.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business earned $6.94 EPS. On average, research analysts expect that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 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.