OMERS ADMINISTRATION Corp Takes $3.73 Million Position in Martin Marietta Materials, Inc. $MLM

OMERS ADMINISTRATION Corp bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, HoldingsChannel.com reports. The fund bought 6,477 shares of the construction company’s stock, valued at approximately $3,735,000.

Several other hedge funds have also recently added to or reduced their stakes in MLM. CoreCap Advisors LLC lifted its stake in Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Martin Marietta Materials during the 4th quarter valued at about $31,000. Reflection Asset Management bought a new position in Martin Marietta Materials during the 4th quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. acquired a new position in Martin Marietta Materials in the second quarter valued at about $37,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MLM. Citigroup decreased their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. UBS Group cut their target price on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Royal Bank Of Canada reduced their target price on Martin Marietta Materials from $615.00 to $610.00 and set a “sector perform” rating on the stock in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price target on Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, DA Davidson assumed coverage on Martin Marietta Materials in a report on Monday. They set a “neutral” rating and a $625.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $665.29.

Martin Marietta Materials Trading Down 0.1%

Shares of NYSE MLM opened at $532.58 on Wednesday. Martin Marietta Materials, Inc. has a 1-year low of $522.19 and a 1-year high of $710.97. The company has a market cap of $31.99 billion, a PE ratio of 13.09, a P/E/G ratio of 2.30 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $567.14 and a two-hundred day moving average of $593.72.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. Martin Marietta Materials’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.43 earnings per share. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is 8.16%.

Martin Marietta Materials Profile

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.