Martin Marietta Materials, Inc. $MLM Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,234 shares of the construction company’s stock after purchasing an additional 839 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Martin Marietta Materials were worth $11,108,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fenimore Asset Management Inc lifted its holdings in shares of Martin Marietta Materials by 6.0% during the second quarter. Fenimore Asset Management Inc now owns 88,850 shares of the construction company’s stock valued at $48,775,000 after purchasing an additional 5,010 shares during the last quarter. Atika Capital Management LLC raised its holdings in Martin Marietta Materials by 18.1% during the 1st quarter. Atika Capital Management LLC now owns 55,633 shares of the construction company’s stock worth $26,600,000 after buying an additional 8,533 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Martin Marietta Materials during the second quarter valued at about $497,000. Janney Montgomery Scott LLC boosted its holdings in shares of Martin Marietta Materials by 0.3% in the second quarter. Janney Montgomery Scott LLC now owns 9,576 shares of the construction company’s stock worth $5,257,000 after buying an additional 33 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Martin Marietta Materials by 16.5% in the second quarter. Farther Finance Advisors LLC now owns 493 shares of the construction company’s stock worth $270,000 after acquiring an additional 70 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Up 0.7%

NYSE:MLM opened at $597.26 on Thursday. The company has a market capitalization of $36.02 billion, a P/E ratio of 33.13, a P/E/G ratio of 5.57 and a beta of 1.06. The stock’s 50 day moving average price is $619.47 and its 200 day moving average price is $588.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a $0.83 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 17.50%.

Analyst Upgrades and Downgrades

MLM has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $525.00 price target (up previously from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. DA Davidson set a $690.00 target price on Martin Marietta Materials in a research report on Thursday, November 6th. JPMorgan Chase & Co. upped their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. UBS Group raised their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Barclays lifted their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.38.

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.