42,573 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Acquired by Fisher Funds Management LTD

Fisher Funds Management LTD purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 42,573 shares of the construction company’s stock, valued at approximately $22,034,000. Fisher Funds Management LTD owned about 0.07% of Martin Marietta Materials at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MLM. Principal Financial Group Inc. raised its holdings in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. grew its position in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after purchasing an additional 506,705 shares during the period. FMR LLC raised its stake in shares of Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Martin Marietta Materials by 7,608.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after buying an additional 179,020 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after buying an additional 164,503 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 3.2 %

MLM stock opened at $489.94 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $482.72 and a 12-month high of $633.23. The business’s 50-day moving average is $530.12 and its 200 day moving average is $547.08. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MLM. Morgan Stanley reduced their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Barclays decreased their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Stephens dropped their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $639.43.

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.