Mawer Investment Management Ltd. Has $152.59 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Mawer Investment Management Ltd. raised its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 283,488 shares of the construction company’s stock after buying an additional 15,316 shares during the quarter. Mawer Investment Management Ltd. owned 0.46% of Martin Marietta Materials worth $152,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD increased its position in Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Martin Marietta Materials by 54.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after purchasing an additional 164,503 shares during the period. The Manufacturers Life Insurance Company increased its stake in Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after purchasing an additional 106,002 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Martin Marietta Materials by 682.5% during the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock valued at $40,393,000 after buying an additional 65,454 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Citigroup dropped their price target 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. Truist Financial reduced their target price 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. JPMorgan Chase & Co. decreased their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Loop Capital lifted 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. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Trading Down 0.2 %

Shares of NYSE:MLM traded down $0.94 during trading on Monday, reaching $582.09. The company’s stock had a trading volume of 4,986 shares, compared to its average volume of 445,511. The firm’s 50 day simple moving average is $557.57 and its two-hundred day simple moving average is $556.43. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The stock has a market capitalization of $35.58 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 3.90 and a beta of 0.90.

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

Martin Marietta Materials Dividend Announcement

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

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.