Martin Marietta Materials, Inc. $MLM Position Increased by Korea Investment CORP

Korea Investment CORP boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,924 shares of the construction company’s stock after purchasing an additional 1,048 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Martin Marietta Materials worth $25,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Schear Investment Advisers LLC boosted its holdings in shares of Martin Marietta Materials by 0.6% during the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after acquiring an additional 16 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Martin Marietta Materials by 10.4% during the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock worth $99,000 after acquiring an additional 17 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Martin Marietta Materials by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock worth $283,000 after acquiring an additional 17 shares during the period. Ritholtz Wealth Management increased its holdings in shares of Martin Marietta Materials by 2.9% in the 3rd quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock worth $407,000 after acquiring an additional 18 shares during the period. Finally, Snowden Capital Advisors LLC lifted its position in Martin Marietta Materials by 1.9% in the 2nd quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock valued at $533,000 after purchasing an additional 18 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on MLM shares. Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Citigroup boosted their price objective on Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $630.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Weiss Ratings lowered Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. Finally, B. Riley Financial initiated coverage on Martin Marietta Materials in a report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $696.88.

Martin Marietta Materials Trading Down 0.8%

Martin Marietta Materials stock opened at $607.49 on Wednesday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The stock has a market capitalization of $36.64 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.35 and a beta of 1.13. The firm has a 50 day simple moving average of $656.48 and a 200-day simple moving average of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.79 EPS. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is 17.66%.

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.