Martin Marietta Materials, Inc. $MLM Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 37,286 shares of the construction company’s stock after purchasing an additional 1,577 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Martin Marietta Materials worth $21,950,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Optima Capital LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth $27,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth $31,000. Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $36,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $580.41 on Thursday. The company has a market capitalization of $34.85 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The company’s fifty day moving average price is $585.50 and its 200 day moving average price is $617.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 earnings per share. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Analyst Ratings Changes

MLM has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Raymond James Financial reissued an “outperform” rating on shares of Martin Marietta Materials in a research note on Monday. Oppenheimer started coverage on Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Wells Fargo & Company lifted their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Morgan Stanley dropped their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $681.94.

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.