International Assets Investment Management LLC Grows Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

International Assets Investment Management LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 46,996.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,516 shares of the construction company’s stock after buying an additional 56,396 shares during the quarter. International Assets Investment Management LLC owned approximately 0.09% of Martin Marietta Materials worth $30,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after purchasing an additional 106,002 shares during the last quarter. M&G Plc purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $41,142,000. Interval Partners LP grew its position in Martin Marietta Materials by 117.4% during the 1st quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock valued at $58,822,000 after purchasing an additional 51,749 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Martin Marietta Materials by 182.5% during the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after purchasing an additional 47,250 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $578.27 on Tuesday. Martin Marietta Materials, Inc. has a twelve month low of $398.59 and a twelve month high of $626.67. The stock has a market capitalization of $35.64 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The firm’s 50 day moving average price is $536.79 and its 200-day moving average price is $556.11. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business posted $5.60 EPS. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.36%.

Analysts Set New Price Targets

Several brokerages recently commented on MLM. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group dropped their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $619.36.

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.