Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,554 shares of the construction company’s stock after purchasing an additional 4,513 shares during the period. Natixis Advisors LLC’s holdings in Martin Marietta Materials were worth $52,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. bought a new position in shares of Martin Marietta Materials in the first quarter valued at approximately $276,000. Blair William & Co. IL raised its position in Martin Marietta Materials by 4.9% in the first quarter. Blair William & Co. IL now owns 7,683 shares of the construction company’s stock worth $4,717,000 after acquiring an additional 359 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at about $317,000. Allstate Corp bought a new position in shares of Martin Marietta Materials during the 1st quarter valued at about $235,000. Finally, Covestor Ltd grew its stake in shares of Martin Marietta Materials by 151.0% in the 1st quarter. Covestor Ltd now owns 256 shares of the construction company’s stock worth $158,000 after purchasing an additional 154 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 0.8 %

Shares of MLM opened at $583.03 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $451.37 and a 52 week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The firm has a market capitalization of $35.63 billion, a P/E ratio of 18.17, a P/E/G ratio of 3.90 and a beta of 0.90. The company has a 50-day simple moving average of $557.57 and a 200-day simple moving average of $556.88.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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 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 0.54%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MLM shares. Truist Financial reduced their target price 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. UBS Group initiated coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Citigroup reduced their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Jefferies Financial Group reduced their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Company 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.