Martin Marietta Materials, Inc. $MLM Stake Increased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 131.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,117 shares of the construction company’s stock after buying an additional 2,908 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Martin Marietta Materials were worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Optima Capital LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $25,000. Meeder Asset Management Inc. grew its stake in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after acquiring an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $31,000. Reflection Asset Management acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $35,000. Finally, Quarry LP purchased a new stake in shares of Martin Marietta Materials in the third quarter worth approximately $38,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of MLM opened at $583.97 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The firm has a market cap of $35.07 billion, a PE ratio of 13.92, a PEG ratio of 2.43 and a beta of 1.10. The firm’s 50 day moving average price is $577.34 and its 200 day moving average price is $609.16. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Analyst Ratings Changes

MLM has been the subject of several research reports. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Morgan Stanley dropped their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a research report on Thursday, April 2nd. Barclays decreased their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $681.53.

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.