Mawer Investment Management Ltd. Sells 7,324 Shares of Martin Marietta Materials, Inc. $MLM

Mawer Investment Management Ltd. trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 279,396 shares of the construction company’s stock after selling 7,324 shares during the quarter. Mawer Investment Management Ltd. owned 0.46% of Martin Marietta Materials worth $176,098,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Quent Capital LLC bought a new stake in Martin Marietta Materials in the 3rd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials in the second quarter valued at about $28,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials during the third quarter worth about $33,000. NewSquare Capital LLC grew its holdings in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after buying an additional 23 shares in the last quarter. Finally, Clearstead Trust LLC raised its position in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of a number of recent research reports. Jefferies Financial Group upped their price target on Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Citigroup lifted their price target on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Loop Capital downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective for the company. in a research note on Wednesday. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, UBS Group increased their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus target price of $676.63.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $652.07 on Monday. The stock has a market cap of $39.33 billion, a PE ratio of 34.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97. The firm has a 50-day moving average of $634.99 and a 200-day moving average of $619.11. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $668.83.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (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 for the quarter, compared to analyst estimates of $2.06 billion. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

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

Martin Marietta Materials 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.