Sumitomo Mitsui Trust Group Inc. Acquires 2,066 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,970 shares of the construction company’s stock after buying an additional 2,066 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Martin Marietta Materials worth $73,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. lifted its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $33,000. Fortitude Family Office LLC grew its holdings in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials in the 1st quarter valued at $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the topic of a number of analyst reports. Jefferies Financial Group cut their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Citigroup reduced their price objective 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. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Trading Down 2.9 %

Shares of MLM opened at $587.96 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $451.37 and a twelve month high of $633.23. The stock has a market cap of $35.93 billion, a PE ratio of 18.32, a P/E/G ratio of 4.05 and a beta of 0.90. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $554.32 and its 200-day moving average price is $556.80.

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

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is 9.85%.

About Martin Marietta Materials

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.