Nisa Investment Advisors LLC Boosts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Nisa Investment Advisors LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,691 shares of the construction company’s stock after buying an additional 182 shares during the period. Nisa Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $4,489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Public Sector Pension Investment Board grew its position in Martin Marietta Materials by 77.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,353 shares of the construction company’s stock worth $1,275,000 after purchasing an additional 1,024 shares during the last quarter. Bank of Montreal Can grew its position in Martin Marietta Materials by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 51,025 shares of the construction company’s stock worth $27,684,000 after purchasing an additional 1,218 shares during the last quarter. APG Asset Management N.V. grew its position in Martin Marietta Materials by 18.1% during the 2nd quarter. APG Asset Management N.V. now owns 19,908 shares of the construction company’s stock worth $10,064,000 after purchasing an additional 3,047 shares during the last quarter. MBB Public Markets I LLC grew its position in Martin Marietta Materials by 804.4% during the 2nd quarter. MBB Public Markets I LLC now owns 4,685 shares of the construction company’s stock worth $2,538,000 after purchasing an additional 4,167 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after purchasing an additional 106,002 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.1 %

Shares of NYSE MLM opened at $548.40 on Friday. 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 $490.05 and a 52 week high of $633.23. The firm has a 50-day moving average price of $550.81 and a 200 day moving average price of $551.52. The stock has a market capitalization of $33.52 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business posted $6.94 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Analysts Set New Price Targets

MLM has been the topic of several research reports. Citigroup lowered their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Raymond James reduced their target price on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Barclays raised their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Company 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.