Mizuho Securities USA LLC Acquires 9,395 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mizuho Securities USA LLC increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 197.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,152 shares of the construction company’s stock after acquiring an additional 9,395 shares during the quarter. Mizuho Securities USA LLC’s holdings in Martin Marietta Materials were worth $7,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of MLM. Avantax Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the first quarter valued at approximately $276,000. Blair William & Co. IL boosted its holdings in Martin Marietta Materials by 4.9% in the first quarter. Blair William & Co. IL now owns 7,683 shares of the construction company’s stock worth $4,717,000 after acquiring an additional 359 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Martin Marietta Materials in the first quarter worth $317,000. Allstate Corp bought a new position in shares of Martin Marietta Materials during the first quarter valued at $235,000. Finally, Covestor Ltd raised its position in shares of Martin Marietta Materials by 151.0% in the 1st quarter. Covestor Ltd now owns 256 shares of the construction company’s stock worth $158,000 after purchasing an additional 154 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

MLM opened at $583.03 on Friday. The company’s 50 day moving average is $557.57 and its 200 day moving average is $556.88. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 3.90 and a beta of 0.90. Martin Marietta Materials, Inc. has a 12-month low of $451.37 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business posted $6.94 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLM. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Loop Capital upped their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.