Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,995 shares of the construction company's stock after purchasing an additional 1,253 shares during the quarter. Advisors Asset Management Inc.'s holdings in Martin Marietta Materials were worth $13,454,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MLM. Kovack Advisors Inc. bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth about $734,000. Peak Financial Advisors LLC bought a new position in shares of Martin Marietta Materials during the second quarter valued at approximately $2,710,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Martin Marietta Materials by 35.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company's stock worth $2,359,000 after buying an additional 1,003 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock worth $252,318,000 after acquiring an additional 11,749 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Martin Marietta Materials by 27.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company's stock valued at $3,943,000 after acquiring an additional 1,549 shares during the period. Institutional investors own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MLM shares. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Loop Capital lifted their target price 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. UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $730.00 price target on the stock. Finally, Morgan Stanley increased their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $634.85.

Martin Marietta Materials Stock Performance

NYSE:MLM traded up $2.56 during mid-day trading on Wednesday, hitting $585.26. The stock had a trading volume of 443,046 shares, compared to its average volume of 446,648. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. 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 stock has a market capitalization of $35.77 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 3.90 and a beta of 0.90. The company has a 50 day simple moving average of $560.58 and a 200-day simple moving average of $556.31.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The firm 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% on a year-over-year basis. During the same period in the prior year, the firm posted $6.94 EPS. On average, research analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.54%. Martin Marietta Materials's payout ratio is presently 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.