Blueshift Asset Management LLC Boosts Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Blueshift Asset Management LLC increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 22.1% in the 3rd quarter, Holdings Channel reports. The fund owned 1,024 shares of the construction company’s stock after buying an additional 185 shares during the quarter. Blueshift Asset Management LLC’s holdings in Martin Marietta Materials were worth $551,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in shares of Martin Marietta Materials by 16.3% in the 3rd quarter. Townsquare Capital LLC now owns 3,650 shares of the construction company’s stock worth $1,965,000 after purchasing an additional 511 shares in the last quarter. M.D. Sass LLC bought a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $54,946,000. Quantbot Technologies LP purchased a new stake in Martin Marietta Materials in the third quarter worth approximately $611,000. D.A. Davidson & CO. grew its position in Martin Marietta Materials by 8.5% during the third quarter. D.A. Davidson & CO. now owns 12,936 shares of the construction company’s stock valued at $6,963,000 after acquiring an additional 1,014 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after acquiring an additional 334,605 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MLM shares. Barclays increased their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Citigroup reduced their price objective 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. Loop Capital raised their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial lowered 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 report on Friday, August 9th. Finally, Stephens reduced their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $644.46.

Martin Marietta Materials Stock Down 0.3 %

MLM stock opened at $595.35 on Thursday. The business has a 50 day moving average of $569.17 and a 200 day moving average of $556.36. The firm has a market cap of $36.39 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly 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). 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.94 earnings per share. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

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.