Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 7,608.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,373 shares of the construction company's stock after purchasing an additional 179,020 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.30% of Martin Marietta Materials worth $97,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLM. Kovack Advisors Inc. bought a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at $734,000. Peak Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials during the 2nd quarter valued at $2,710,000. Bank of New York Mellon Corp increased its stake in 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 buying an additional 11,749 shares in the last quarter. ING Groep NV bought a new stake in Martin Marietta Materials during the third quarter valued at about $1,601,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Martin Marietta Materials by 27.0% in the second 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 in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 0.2 %

Shares of MLM stock traded down $1.37 during mid-day trading on Thursday, hitting $595.60. The stock had a trading volume of 379,164 shares, compared to its average volume of 447,454. The firm has a market capitalization of $36.40 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The firm's 50-day moving average is $569.17 and its two-hundred day moving average is $556.36.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the firm earned $6.94 earnings per share. The firm's quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.

Analyst Ratings Changes

MLM has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Citigroup cut their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating for the company in a research note on Monday, August 12th. StockNews.com upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Thursday, November 21st. Barclays raised their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Finally, Stephens decreased their target price on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $644.46.

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.