Intact Investment Management Inc. Purchases 800 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Intact Investment Management Inc. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,900 shares of the construction company’s stock after acquiring an additional 800 shares during the period. Intact Investment Management Inc.’s holdings in Martin Marietta Materials were worth $4,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Whitener Capital Management Inc. grew its position in Martin Marietta Materials by 36.2% in the 3rd quarter. Whitener Capital Management Inc. now owns 2,785 shares of the construction company’s stock worth $1,499,000 after purchasing an additional 740 shares during the period. Clear Creek Financial Management LLC grew its position in Martin Marietta Materials by 2.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,195 shares of the construction company’s stock worth $643,000 after purchasing an additional 26 shares during the period. Farther Finance Advisors LLC grew its position in Martin Marietta Materials by 11.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 317 shares of the construction company’s stock worth $171,000 after purchasing an additional 33 shares during the period. Stephens Inc. AR grew its position in Martin Marietta Materials by 7.4% in the 3rd quarter. Stephens Inc. AR now owns 40,619 shares of the construction company’s stock worth $21,863,000 after purchasing an additional 2,788 shares during the period. Finally, Congress Asset Management Co. grew its position in Martin Marietta Materials by 0.5% in the 3rd quarter. Congress Asset Management Co. now owns 253,178 shares of the construction company’s stock worth $136,273,000 after purchasing an additional 1,242 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MLM. 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 report on Monday, August 12th. Truist Financial cut 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 research report on Friday, August 9th. Barclays boosted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $626.92.

Martin Marietta Materials Stock Up 0.3 %

MLM opened at $581.98 on Tuesday. The stock has a market cap of $35.57 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. Martin Marietta Materials, Inc. has a fifty-two week low of $438.89 and a fifty-two week high of $626.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The firm’s fifty day moving average is $542.14 and its 200 day moving average is $555.68.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 EPS. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 18.09 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.79 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.54%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is presently 9.85%.

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.