Quantbot Technologies LP Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Quantbot Technologies LP bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,136 shares of the construction company's stock, valued at approximately $611,000.

Several other institutional investors have also recently made changes to their positions in MLM. FMR LLC boosted its stake in shares of Martin Marietta Materials by 15.3% in the 3rd 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 during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Martin Marietta Materials by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock worth $337,903,000 after acquiring an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Martin Marietta Materials by 54.2% in the 3rd 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 during the period. Finally, Bank of New York Mellon Corp grew its position in Martin Marietta Materials by 2.6% during 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 acquiring an additional 11,749 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 1.0 %

MLM stock traded down $6.15 during mid-day trading on Tuesday, hitting $587.07. 166,257 shares of the company were exchanged, compared to its average volume of 444,626. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23. The firm has a fifty day simple moving average of $572.14 and a 200 day simple moving average of $555.91. The company has a market capitalization of $35.88 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 4.07 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.94 earnings per share. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is 9.85%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MLM shares. Stephens reduced their price target on shares of 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. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a "buy" rating and a $730.00 target price for the company. Loop Capital increased their price objective 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. Finally, Citigroup decreased their target price on Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus price target of $644.46.

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.