Daiwa Securities Group Inc. Boosts Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Daiwa Securities Group Inc. lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,164 shares of the construction company’s stock after acquiring an additional 441 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Martin Marietta Materials were worth $8,700,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MLM. CreativeOne Wealth LLC purchased a new stake in Martin Marietta Materials during the 1st quarter worth approximately $204,000. Ancora Advisors LLC boosted its stake in shares of Martin Marietta Materials by 25.1% during the 1st quarter. Ancora Advisors LLC now owns 8,603 shares of the construction company’s stock valued at $5,282,000 after buying an additional 1,726 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Martin Marietta Materials by 17.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock valued at $3,866,000 after buying an additional 952 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Martin Marietta Materials by 14.0% during the 1st quarter. Tidal Investments LLC now owns 3,632 shares of the construction company’s stock valued at $2,230,000 after buying an additional 445 shares during the last quarter. Finally, Wahed Invest LLC boosted its stake in shares of Martin Marietta Materials by 15.1% during the 1st quarter. Wahed Invest LLC now owns 1,210 shares of the construction company’s stock valued at $743,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM opened at $603.84 on Tuesday. The firm has a market capitalization of $36.91 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. The stock’s fifty day moving average is $565.21 and its 200-day moving average is $556.17. Martin Marietta Materials, Inc. has a one year low of $456.83 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last released 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 company had revenue of $1.89 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.94 earnings per share. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 9.85%.

Analysts Set New Price Targets

Several equities analysts have recently commented on MLM shares. Morgan Stanley increased their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Stephens reduced their target price on 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. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. reduced their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial decreased their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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.