Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,634 shares of the construction company's stock after acquiring an additional 8,639 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Martin Marietta Materials worth $49,928,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Martin Marietta Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after purchasing an additional 36,531 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after buying an additional 506,705 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock valued at $939,898,000 after acquiring an additional 191,043 shares in the last quarter. Amundi lifted its stake in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after acquiring an additional 148,065 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock worth $474,370,000 after acquiring an additional 916,743 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

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Martin Marietta Materials Stock Performance

Shares of MLM traded up $0.39 during trading hours on Monday, reaching $478.39. 568,283 shares of the company traded hands, compared to its average volume of 479,669. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average price of $507.03 and a 200-day moving average price of $538.78. Martin Marietta Materials, Inc. has a 12-month low of $448.50 and a 12-month high of $633.23. The stock has a market capitalization of $29.17 billion, a P/E ratio of 14.80, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is 9.77%.

Insider Activity

In related news, SVP Michael J. Petro acquired 550 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, for a total transaction of $249,903.50. Following the purchase, the senior vice president now owns 8,985 shares of the company's stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald A. Mccunniff sold 1,332 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now owns 3,523 shares in the company, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company's stock.

Analyst Ratings Changes

MLM has been the subject of several research reports. Loop Capital lowered their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Citigroup lowered their target price on Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. HSBC upgraded Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Finally, Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $628.64.

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.