Heritage Investors Management Corp Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Heritage Investors Management Corp boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,843 shares of the construction company’s stock after purchasing an additional 406 shares during the quarter. Martin Marietta Materials comprises 1.1% of Heritage Investors Management Corp’s investment portfolio, making the stock its 23rd biggest position. Heritage Investors Management Corp owned about 0.10% of Martin Marietta Materials worth $32,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLM. Private Advisor Group LLC increased its holdings in shares of Martin Marietta Materials by 20.6% in the 3rd quarter. Private Advisor Group LLC now owns 1,458 shares of the construction company’s stock worth $785,000 after buying an additional 249 shares during the last quarter. Allworth Financial LP increased its stake in Martin Marietta Materials by 89.3% in the third quarter. Allworth Financial LP now owns 799 shares of the construction company’s stock valued at $430,000 after acquiring an additional 377 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Martin Marietta Materials by 8.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,846 shares of the construction company’s stock valued at $4,230,000 after purchasing an additional 635 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Martin Marietta Materials by 5.9% during the third quarter. State of Alaska Department of Revenue now owns 7,099 shares of the construction company’s stock worth $3,821,000 after purchasing an additional 395 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of Martin Marietta Materials by 0.3% in the 3rd quarter. abrdn plc now owns 16,609 shares of the construction company’s stock worth $8,872,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of a number of research reports. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Raymond James decreased their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Barclays reduced their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $491.15 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $482.72 and a fifty-two week high of $633.23. The stock’s 50 day simple moving average is $527.89 and its two-hundred day simple moving average is $546.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The stock has a market cap of $30.02 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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 given a $0.79 dividend. 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 dividend payout ratio is presently 9.77%.

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.