Pictet Asset Management Holding SA Has $21.95 Million Holdings in Martin Marietta Materials, Inc. $MLM

Pictet Asset Management Holding SA raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,286 shares of the construction company’s stock after purchasing an additional 1,577 shares during the period. Pictet Asset Management Holding SA’s holdings in Martin Marietta Materials were worth $21,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. Douglass Winthrop Advisors LLC raised its holdings in Martin Marietta Materials by 0.8% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock valued at $146,372,000 after acquiring an additional 1,939 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Martin Marietta Materials by 9.7% in the 4th quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock worth $27,527,000 after acquiring an additional 3,903 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Martin Marietta Materials by 14,332.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock worth $48,438,000 after purchasing an additional 77,253 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Martin Marietta Materials by 141.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 117,872 shares of the construction company’s stock worth $74,292,000 after purchasing an additional 69,016 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Martin Marietta Materials by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock valued at $259,344,000 after purchasing an additional 5,038 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLM. Barclays reduced their target price on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. UBS Group set a $739.00 price objective on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They set a “market perform” rating for the company. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $580.41 on Thursday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The firm has a fifty day moving average of $585.50 and a 200-day moving average of $617.23. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company’s revenue for the quarter 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. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

About Martin Marietta Materials

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.