Heritage Investors Management Corp Buys 247 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Heritage Investors Management Corp lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 63,437 shares of the construction company’s stock after purchasing an additional 247 shares during the period. Martin Marietta Materials comprises 1.1% of Heritage Investors Management Corp’s investment portfolio, making the stock its 23rd biggest position. Heritage Investors Management Corp’s holdings in Martin Marietta Materials were worth $34,145,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MLM. Peak Financial Advisors LLC bought a new position in Martin Marietta Materials during the second quarter valued at about $2,710,000. TD Asset Management Inc increased its stake in Martin Marietta Materials by 4.4% during the first quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock valued at $90,840,000 after acquiring an additional 6,263 shares during the period. Russell Investments Group Ltd. increased its stake in Martin Marietta Materials by 8.1% during the first quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company’s stock valued at $45,545,000 after acquiring an additional 5,576 shares during the period. M&G Plc bought a new position in Martin Marietta Materials during the first quarter valued at about $41,142,000. Finally, GSA Capital Partners LLP bought a new position in Martin Marietta Materials during the first quarter valued at about $1,313,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 0.3 %

Shares of MLM traded down $1.87 during trading hours on Tuesday, reaching $580.11. The stock had a trading volume of 3,356 shares, compared to its average volume of 442,186. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52 week low of $438.89 and a 52 week high of $626.67. The firm has a 50-day moving average of $542.14 and a 200 day moving average of $555.68. The company has a market cap of $35.46 billion, a P/E ratio of 18.14, a P/E/G ratio of 3.82 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.94 earnings per share. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 18.09 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MLM shares. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Barclays boosted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Citigroup reduced their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. reduced their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $626.92.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.