Lazard Freres Gestion S.A.S. Purchases 3,804 Shares of Martin Marietta Materials, Inc. $MLM

Lazard Freres Gestion S.A.S. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,190 shares of the construction company’s stock after buying an additional 3,804 shares during the period. Lazard Freres Gestion S.A.S. owned 0.09% of Martin Marietta Materials worth $33,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC increased its stake in shares of Martin Marietta Materials by 0.6% during the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock worth $1,721,000 after purchasing an additional 16 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in Martin Marietta Materials during the third quarter worth about $211,000. Fenimore Asset Management Inc grew its holdings in Martin Marietta Materials by 0.9% during the third quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company’s stock worth $56,509,000 after purchasing an additional 807 shares during the period. Allspring Global Investments Holdings LLC increased its position in Martin Marietta Materials by 7.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,053 shares of the construction company’s stock worth $1,893,000 after buying an additional 199 shares during the last quarter. Finally, Merit Financial Group LLC raised its stake in Martin Marietta Materials by 21.2% in the third quarter. Merit Financial Group LLC now owns 1,854 shares of the construction company’s stock valued at $1,168,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.3%

MLM stock opened at $623.01 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The stock has a market capitalization of $37.57 billion, a price-to-earnings ratio of 32.84 and a beta of 1.15. The business’s fifty day moving average price is $619.20 and its two-hundred day moving average price is $604.16. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 17.50%.

Wall Street Analyst Weigh In

MLM has been the subject of several research analyst reports. Barclays lifted their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. DA Davidson set a $690.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, November 6th. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $652.19.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.