Mercer Global Advisors Inc. ADV Grows Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Mercer Global Advisors Inc. ADV lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,328 shares of the construction company’s stock after purchasing an additional 77 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Martin Marietta Materials were worth $449,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quantitative Investment Management LLC purchased a new position in shares of Martin Marietta Materials in the third quarter worth about $451,000. Canada Pension Plan Investment Board raised its stake in shares of Martin Marietta Materials by 30.1% in the third quarter. Canada Pension Plan Investment Board now owns 109,988 shares of the construction company’s stock worth $35,426,000 after purchasing an additional 25,460 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of Martin Marietta Materials by 38.1% in the third quarter. Belpointe Asset Management LLC now owns 533 shares of the construction company’s stock worth $172,000 after purchasing an additional 147 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Martin Marietta Materials by 10.3% in the third quarter. Blair William & Co. IL now owns 9,986 shares of the construction company’s stock worth $3,216,000 after purchasing an additional 933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Martin Marietta Materials by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 36,119 shares of the construction company’s stock worth $11,634,000 after acquiring an additional 545 shares during the period. 93.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several analyst reports. Raymond James raised their target price on Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. Loop Capital raised their target price on Martin Marietta Materials from $450.00 to $475.00 in a report on Friday, May 5th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Martin Marietta Materials in a report on Friday, February 10th. Morgan Stanley dropped their target price on Martin Marietta Materials from $390.00 to $386.00 and set an “equal weight” rating on the stock in a report on Thursday, April 20th. Finally, The Goldman Sachs Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their target price for the stock from $420.00 to $428.00 in a report on Monday, April 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $412.75.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $405.99 on Tuesday. The company has a market cap of $25.16 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.64 and a beta of 0.87. The stock’s 50 day simple moving average is $359.42 and its 200-day simple moving average is $355.76. Martin Marietta Materials, Inc. has a 1-year low of $284.99 and a 1-year high of $410.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.12 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM – Get Rating) last released its earnings results on Thursday, May 4th. The construction company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $0.99 by $1.17. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.27 billion. Martin Marietta Materials had a return on equity of 12.31% and a net margin of 15.39%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 15.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be given a $0.66 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $2.64 annualized dividend and a dividend yield of 0.65%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.04%.

Martin Marietta Materials Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.