Sumitomo Mitsui Trust Group Inc. Purchases 1,432 Shares of Martin Marietta Materials, Inc. $MLM

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the third quarter, HoldingsChannel.com reports. The firm owned 140,623 shares of the construction company’s stock after purchasing an additional 1,432 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Martin Marietta Materials were worth $88,632,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MLM. First Horizon Corp purchased a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $183,000. MGO One Seven LLC purchased a new stake in Martin Marietta Materials in the third quarter worth $223,000. Citizens Financial Group Inc. RI boosted its holdings in Martin Marietta Materials by 3.3% in the third quarter. Citizens Financial Group Inc. RI now owns 1,358 shares of the construction company’s stock valued at $856,000 after acquiring an additional 44 shares in the last quarter. Tema Etfs LLC boosted its holdings in Martin Marietta Materials by 65.3% in the third quarter. Tema Etfs LLC now owns 3,006 shares of the construction company’s stock valued at $1,895,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Forum Financial Management LP increased its position in Martin Marietta Materials by 10.3% during the 3rd quarter. Forum Financial Management LP now owns 1,374 shares of the construction company’s stock valued at $866,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $637.79 on Thursday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $668.83. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $38.47 billion, a P/E ratio of 33.62 and a beta of 1.15. The stock’s 50 day moving average is $624.53 and its 200 day moving average is $611.11.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. DA Davidson reaffirmed a “neutral” rating and set a $690.00 target price on shares of Martin Marietta Materials in a research note on Wednesday. Raymond James Financial lifted their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Citigroup increased their target price on Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company dropped their price target on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $668.67.

Martin Marietta Materials Company 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.