ING Groep NV Purchases Shares of 2,974 Martin Marietta Materials, Inc. (NYSE:MLM)

ING Groep NV acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,974 shares of the construction company's stock, valued at approximately $1,601,000.

A number of other large investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC grew its stake in Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company's stock worth $360,000 after buying an additional 18 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company's stock valued at $1,144,000 after purchasing an additional 19 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company's stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC boosted its stake in shares of Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company's stock valued at $300,000 after purchasing an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co boosted its stake in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company's stock valued at $368,000 after purchasing an additional 20 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of research analyst reports. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a "buy" rating and a $730.00 price target on the stock. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a research report on Monday, August 26th. Barclays lifted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Finally, 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 report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $634.85.

Martin Marietta Materials Stock Down 0.1 %

Shares of MLM traded down $0.44 during trading hours on Monday, hitting $582.59. The company had a trading volume of 221,158 shares, compared to its average volume of 446,490. The firm has a fifty day moving average price of $557.57 and a 200-day moving average price of $556.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a market capitalization of $35.61 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 3.90 and a beta of 0.90. Martin Marietta Materials, Inc. has a 52-week low of $451.37 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) 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 company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the firm earned $6.94 EPS. Martin Marietta Materials's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. 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 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.