M&G Plc Acquires 3,311 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

M&G PLC boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,840 shares of the construction company's stock after acquiring an additional 3,311 shares during the period. M&G PLC owned 0.11% of Martin Marietta Materials worth $35,960,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MLM. Marks Group Wealth Management Inc increased its stake in shares of Martin Marietta Materials by 55.7% in the third quarter. Marks Group Wealth Management Inc now owns 707 shares of the construction company's stock worth $381,000 after purchasing an additional 253 shares in the last quarter. Heritage Investors Management Corp increased its stake in shares of Martin Marietta Materials by 0.4% in the third quarter. Heritage Investors Management Corp now owns 63,437 shares of the construction company's stock worth $34,145,000 after purchasing an additional 247 shares in the last quarter. Amalgamated Bank increased its stake in shares of Martin Marietta Materials by 1.1% in the third quarter. Amalgamated Bank now owns 12,625 shares of the construction company's stock worth $6,795,000 after purchasing an additional 139 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Martin Marietta Materials by 10.6% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,200 shares of the construction company's stock worth $646,000 after purchasing an additional 115 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Martin Marietta Materials by 8.2% in the third quarter. QRG Capital Management Inc. now owns 1,734 shares of the construction company's stock worth $933,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 0.0 %

MLM stock traded down $0.15 during trading on Thursday, hitting $617.16. 516,962 shares of the stock traded hands, compared to its average volume of 448,493. Martin Marietta Materials, Inc. has a 1 year low of $444.14 and a 1 year high of $633.23. The firm's 50 day moving average is $545.48 and its two-hundred day moving average is $556.16. The stock has a market cap of $37.72 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 3.86 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 (NYSE:MLM - Get Free Report) last posted its 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). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials's revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.94 EPS. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.95 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.51%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.74. Martin Marietta Materials's dividend payout ratio is currently 9.85%.

Analyst Ratings Changes

Several brokerages recently commented on MLM. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Jefferies Financial Group reduced their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Loop Capital boosted 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 note on Thursday, October 31st. BNP Paribas raised shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. Finally, Stephens cut their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $634.85.

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.