Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,005 shares of the construction company’s stock after acquiring an additional 1,382 shares during the period. Fifth Third Bancorp’s holdings in Martin Marietta Materials were worth $3,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Public Sector Pension Investment Board increased its holdings in shares of Martin Marietta Materials by 77.1% in the second quarter. Public Sector Pension Investment Board now owns 2,353 shares of the construction company’s stock valued at $1,275,000 after purchasing an additional 1,024 shares during the period. Mackenzie Financial Corp increased its stake in Martin Marietta Materials by 32.9% in the 2nd quarter. Mackenzie Financial Corp now owns 6,825 shares of the construction company’s stock valued at $3,698,000 after buying an additional 1,691 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Martin Marietta Materials by 23.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,782 shares of the construction company’s stock worth $965,000 after buying an additional 339 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 6.4% in the second quarter. EP Wealth Advisors LLC now owns 1,035 shares of the construction company’s stock valued at $561,000 after acquiring an additional 62 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Martin Marietta Materials by 41.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 28,616 shares of the construction company’s stock valued at $15,504,000 after acquiring an additional 8,387 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $546.10 on Tuesday. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12-month low of $490.05 and a 12-month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $550.81 and its two-hundred day moving average is $551.56.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for 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%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.94 EPS. Research analysts expect that Martin Marietta Materials, Inc. will post 17.57 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $0.79 dividend. 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 payout ratio is currently 9.85%.

Analysts Set New Price Targets

A number of brokerages recently commented on MLM. Raymond James reduced their price objective on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Barclays boosted 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 report on Tuesday, October 29th. Finally, Jefferies Financial Group reduced their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Two 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.