Martin Marietta Materials, Inc. $MLM Stock Holdings Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 24.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,581 shares of the construction company’s stock after purchasing an additional 20,445 shares during the quarter. Pictet Asset Management Holding SA owned 0.17% of Martin Marietta Materials worth $49,219,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management lifted its holdings in shares of Martin Marietta Materials by 1,633.3% during the 3rd quarter. Activest Wealth Management now owns 52 shares of the construction company’s stock worth $25,000 after acquiring an additional 49 shares during the period. CoreCap Advisors LLC boosted its position in shares of Martin Marietta Materials by 370.0% during the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after acquiring an additional 19 shares during the last quarter. WestEnd Advisors LLC increased its stake in Martin Marietta Materials by 1,900.0% in the third quarter. WestEnd Advisors LLC now owns 60 shares of the construction company’s stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new position in Martin Marietta Materials during the third quarter valued at approximately $32,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.5%

Shares of MLM stock opened at $528.45 on Wednesday. The firm has a market capitalization of $37.58 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.92 and a beta of 1.02. Martin Marietta Materials, Inc. has a twelve month low of $464.92 and a twelve month high of $710.97. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $503.19 and its 200 day simple moving average is $572.25.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, November 4th. The construction company reported $5.47 EPS for the quarter, missing the consensus estimate of $5.99 by ($0.52). Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $6.85 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 15.36 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a $0.84 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 1st. Martin Marietta Materials’s payout ratio is currently 8.89%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MLM. Wall Street Zen cut Martin Marietta Materials from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings lowered Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. Sanford C. Bernstein lowered Martin Marietta Materials to an “underweight” rating in a research note on Wednesday, September 2nd. Raymond James Financial reissued an “outperform” rating and set a $620.00 price target on shares of Martin Marietta Materials in a report on Friday. Finally, Zacks Research downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $638.35.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.