OMERS ADMINISTRATION Corp Has $3.01 Million Stock Position in Martin Marietta Materials, Inc. $MLM

OMERS ADMINISTRATION Corp increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 131.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,117 shares of the construction company’s stock after buying an additional 2,908 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Martin Marietta Materials were worth $3,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLM. Northwestern Mutual Wealth Management Co. lifted its position in Martin Marietta Materials by 14,332.7% in the fourth 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 during the period. SG Americas Securities LLC increased its holdings in Martin Marietta Materials by 66.7% in the 4th quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock valued at $5,801,000 after buying an additional 3,728 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Martin Marietta Materials by 17.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock valued at $7,318,000 after buying an additional 1,778 shares during the period. Jennison Associates LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $18,636,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Martin Marietta Materials by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock valued at $80,272,000 after buying an additional 5,227 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Company upped their target price on shares of Martin Marietta Materials from $614.00 to $616.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Barclays dropped their price target on shares of 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. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Truist Financial lifted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. 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 Stock Up 2.1%

Shares of NYSE MLM opened at $583.97 on Wednesday. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. 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 business has a fifty day moving average of $577.34 and a two-hundred day moving average of $609.16. The stock 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.

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

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were paid a $0.83 dividend. The ex-dividend date 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 payout ratio is 7.91%.

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.