Mackenzie Financial Corp Has $3.70 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Mackenzie Financial Corp increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 32.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,825 shares of the construction company’s stock after purchasing an additional 1,691 shares during the period. Mackenzie Financial Corp’s holdings in Martin Marietta Materials were worth $3,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC boosted its position in shares of Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after buying an additional 18 shares during the period. Mather Group LLC. boosted its stake in shares of Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after buying an additional 20 shares during the period. TFG Advisers LLC raised its holdings in shares of Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after acquiring an additional 20 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Martin Marietta Materials by 3.0% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after buying an additional 20 shares during the last quarter. Finally, Pitcairn Co. lifted its holdings in shares of Martin Marietta Materials by 5.0% during the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MLM has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Stephens lowered their target price on shares of 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. Stifel Nicolaus reduced their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley upped their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Jefferies Financial Group raised their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $629.82.

Martin Marietta Materials Stock Down 0.6 %

MLM opened at $534.98 on Wednesday. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The business has a 50 day moving average of $537.75 and a 200-day moving average of $563.97. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 3.78 and a beta of 0.91. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.60 earnings per share. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

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.