Mirae Asset Global Investments Co. Ltd. Boosts Stake in Martin Marietta Materials, Inc. $MLM

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 17.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,753 shares of the construction company’s stock after buying an additional 1,778 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Martin Marietta Materials were worth $7,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its stake in shares of Martin Marietta Materials by 6.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares in the last quarter. Sivia Capital Partners LLC raised its position in Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares during the period. EverSource Wealth Advisors LLC raised its position in Martin Marietta Materials by 205.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after purchasing an additional 175 shares during the period. Finally, Cresset Asset Management LLC raised its position in Martin Marietta Materials by 22.6% in the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MLM shares. Citigroup lifted their target price on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $630.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Weiss Ratings cut shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Finally, Stephens decreased their target price on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $692.06.

Martin Marietta Materials Trading Up 1.0%

Shares of MLM opened at $627.96 on Tuesday. The stock has a market capitalization of $37.84 billion, a P/E ratio of 33.40, a PEG ratio of 2.46 and a beta of 1.19. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $624.83 and a two-hundred day simple moving average of $629.10. Martin Marietta Materials, Inc. has a twelve month low of $478.86 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.79 EPS. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.85 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.