Mutual of America Capital Management LLC Boosts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Mutual of America Capital Management LLC raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 2.2% in the 2nd quarter, Holdings Channel reports. The fund owned 8,504 shares of the construction company’s stock after acquiring an additional 179 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Martin Marietta Materials were worth $2,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Martin Marietta Materials by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 6,850,912 shares of the construction company’s stock valued at $2,636,848,000 after acquiring an additional 105,535 shares during the last quarter. BlackRock Inc. raised its stake in Martin Marietta Materials by 1.0% during the 1st quarter. BlackRock Inc. now owns 4,116,762 shares of the construction company’s stock valued at $1,584,501,000 after acquiring an additional 39,408 shares during the last quarter. Select Equity Group L.P. raised its stake in Martin Marietta Materials by 8.9% during the 1st quarter. Select Equity Group L.P. now owns 3,816,405 shares of the construction company’s stock valued at $1,468,896,000 after acquiring an additional 310,451 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Martin Marietta Materials by 59.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,978,299 shares of the construction company’s stock valued at $761,428,000 after acquiring an additional 739,005 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Martin Marietta Materials by 5.4% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 968,111 shares of the construction company’s stock valued at $289,698,000 after acquiring an additional 49,684 shares during the last quarter. 93.51% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 1.9 %

MLM opened at $364.65 on Wednesday. The business’s fifty day moving average is $331.26 and its two-hundred day moving average is $332.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 2.01. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.95 and a beta of 0.85. Martin Marietta Materials, Inc. has a one year low of $284.99 and a one year high of $446.46.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, November 30th. This represents a $2.64 dividend on an annualized basis and a yield of 0.72%. Martin Marietta Materials’s payout ratio is 19.66%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MLM shares. StockNews.com started coverage on Martin Marietta Materials in a research note on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet raised Martin Marietta Materials from a “c+” rating to a “b-” rating in a report on Wednesday, August 10th. DA Davidson reduced their price target on Martin Marietta Materials from $395.00 to $385.00 in a report on Wednesday, October 12th. Raymond James reduced their price target on Martin Marietta Materials from $410.00 to $380.00 in a report on Sunday, November 6th. Finally, BNP Paribas raised Martin Marietta Materials from a “neutral” rating to an “outperform” rating and set a $407.00 price target for the company in a report on Tuesday, September 20th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.33.

Martin Marietta Materials Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLMGet Rating).

Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.