The Manufacturers Life Insurance Company Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

The Manufacturers Life Insurance Company lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 17.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 123,379 shares of the construction company's stock after selling 25,448 shares during the period. The Manufacturers Life Insurance Company owned 0.20% of Martin Marietta Materials worth $66,409,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLM. Ameritas Advisory Services LLC grew its stake in shares of Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company's stock worth $360,000 after purchasing an additional 18 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company's stock worth $1,144,000 after purchasing an additional 19 shares during the last quarter. Mather Group LLC. grew its stake in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company's stock worth $90,000 after purchasing an additional 20 shares during the last quarter. TFG Advisers LLC grew its stake in shares of Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company's stock worth $300,000 after purchasing an additional 20 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in shares of Martin Marietta Materials by 3.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company's stock worth $368,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 0.2 %

Shares of MLM traded down $1.37 on Thursday, reaching $595.60. The company's stock had a trading volume of 379,164 shares, compared to its average volume of 447,454. 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 stock has a market capitalization of $36.40 billion, a PE ratio of 18.55, a PEG ratio of 4.10 and a beta of 0.90. The firm has a fifty day moving average of $569.17 and a 200-day moving average of $556.36.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $6.94 EPS. The company's revenue was down 5.3% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on MLM shares. Loop Capital upped their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Jefferies Financial Group cut their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Thursday, November 21st. UBS Group started coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a "buy" rating and a $730.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $644.46.

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.