Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 158.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,952 shares of the construction company's stock after acquiring an additional 26,929 shares during the quarter. National Bank of Canada FI owned 0.07% of Martin Marietta Materials worth $23,657,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock worth $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 76.2% in the third 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock worth $337,903,000 after purchasing an additional 12,759 shares during the last quarter. Diamond Hill Capital Management Inc. increased 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Martin Marietta Materials by 2.6% in 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 purchasing an additional 11,749 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group assumed coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $730.00 price target for the company. BNP Paribas upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised Martin Marietta Materials from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Finally, Loop Capital raised their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $644.46.

Martin Marietta Materials Trading Down 2.0 %

NYSE MLM traded down $11.25 during trading on Tuesday, hitting $563.45. The stock had a trading volume of 418,348 shares, compared to its average volume of 445,198. The firm has a 50 day moving average price of $577.12 and a 200 day moving average price of $555.93. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a twelve month low of $468.48 and a twelve month high of $633.23. The company has a market capitalization of $34.44 billion, a PE ratio of 17.56, a PEG ratio of 3.94 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates 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. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's payout ratio is 9.85%.

Martin Marietta Materials Company 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.