20,445 Martin Marietta Materials, Inc. $MLM Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 24.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 102,581 shares of the construction company’s stock after purchasing an additional 20,445 shares during the period. Pictet Asset Management Holding SA’s holdings in Martin Marietta Materials were worth $49,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Martin Marietta Materials by 17.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,510 shares of the construction company’s stock valued at $725,000 after buying an additional 219 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Martin Marietta Materials by 26.9% during the third quarter. Ashton Thomas Private Wealth LLC now owns 793 shares of the construction company’s stock worth $381,000 after acquiring an additional 168 shares during the last quarter. Mader & Shannon Wealth Management Inc. raised its position in shares of Martin Marietta Materials by 1.9% during the third quarter. Mader & Shannon Wealth Management Inc. now owns 13,925 shares of the construction company’s stock worth $6,681,000 after acquiring an additional 260 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $726,000. Finally, Alta Advisers Ltd acquired a new position in Martin Marietta Materials in the third quarter valued at $216,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $528.45 on Wednesday. Martin Marietta Materials, Inc. has a twelve month low of $464.92 and a twelve month high of $710.97. The stock’s 50 day moving average is $503.19 and its 200-day moving average is $572.25. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $37.58 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.92 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing the consensus estimate of $5.99 by ($0.52). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.85 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 15.36 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 8.89%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MLM. Wall Street Zen lowered Martin Marietta Materials from a “sell” rating to a “strong sell” rating in a research report on Saturday. Citigroup lifted their target price on Martin Marietta Materials from $610.00 to $641.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Morgan Stanley dropped their price target on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Royal Bank Of Canada cut their price target on Martin Marietta Materials from $530.00 to $520.00 and set a “sector perform” rating on the stock in a report on Friday, November 6th. Finally, BNP Paribas Exane reduced their price objective on shares of Martin Marietta Materials from $590.00 to $565.00 and set a “neutral” rating for the company in a research report on Wednesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.35.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.