Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 680 shares of the construction company’s stock after acquiring an additional 20 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Martin Marietta Materials were worth $368,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ameritas Advisory Services LLC boosted its holdings in Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the last quarter. Mather Group LLC. raised its position in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC boosted its stake in shares of Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after buying an additional 20 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Martin Marietta Materials by 1.8% during the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after buying an additional 21 shares in the last quarter. Finally, Pitcairn Co. increased its stake in shares of Martin Marietta Materials by 5.0% in the first quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock worth $271,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM stock opened at $534.01 on Thursday. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The stock has a market capitalization of $32.92 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The stock’s fifty day moving average is $541.16 and its two-hundred day moving average is $567.73.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business earned $5.60 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stifel Nicolaus decreased their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Morgan Stanley upped their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group lifted their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Stephens dropped their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $629.82.

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.