Advisors Asset Management Inc. Has $13.45 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Advisors Asset Management Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,995 shares of the construction company’s stock after acquiring an additional 1,253 shares during the quarter. Advisors Asset Management Inc.’s holdings in Martin Marietta Materials were worth $13,454,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MLM. Ameritas Advisory Services LLC raised its holdings in shares of Martin Marietta Materials by 2.8% during the 2nd 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 in the last quarter. Inspire Investing LLC raised its holdings in Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after buying an additional 19 shares in the last quarter. Mather Group LLC. lifted its position in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after buying an additional 20 shares during 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 worth $300,000 after acquiring an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co increased 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 acquiring an additional 20 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.2 %

NYSE:MLM opened at $582.68 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a one year low of $451.37 and a one year high of $633.23. The firm’s 50 day simple moving average is $559.08 and its 200 day simple moving average is $556.37. The company has a market cap of $35.61 billion, a PE ratio of 18.16, a P/E/G ratio of 3.90 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.94 EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Truist Financial lowered their price target on 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. Finally, Citigroup dropped their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.