Mawer Investment Management Ltd. Has $145.30 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Mawer Investment Management Ltd. lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 268,172 shares of the construction company’s stock after selling 12,778 shares during the quarter. Mawer Investment Management Ltd. owned approximately 0.44% of Martin Marietta Materials worth $145,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLM. Ables Iannone Moore & Associates Inc. bought a new position in Martin Marietta Materials during the fourth quarter worth about $25,000. Riverview Trust Co bought a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $31,000. Fortitude Family Office LLC boosted its stake in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC bought a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $41,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

MLM has been the subject of a number of research reports. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Stifel Nicolaus cut their target price on shares of 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. Citigroup cut 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. Morgan Stanley raised their target price on shares of 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, Stephens cut their target price on shares of 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Stock Up 0.7 %

NYSE:MLM opened at $506.21 on Tuesday. The firm’s 50 day simple moving average is $543.06 and its 200 day simple moving average is $569.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company has a market cap of $31.20 billion, a PE ratio of 15.00, a P/E/G ratio of 3.43 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business earned $5.60 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.59 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is 9.36%.

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.