Mitsubishi UFJ Asset Management Co. Ltd. Purchases 6,887 Shares of Martin Marietta Materials, Inc. $MLM

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,088 shares of the construction company’s stock after purchasing an additional 6,887 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Martin Marietta Materials worth $63,179,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. NewSquare Capital LLC lifted its stake in shares of Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after purchasing an additional 23 shares during the period. Aspect Partners LLC raised its holdings in Martin Marietta Materials by 540.0% in the second quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after purchasing an additional 54 shares in the last quarter. IMA Advisory Services Inc. bought a new position in Martin Marietta Materials in the first quarter worth $40,000. Finally, Salomon & Ludwin LLC boosted its stake in Martin Marietta Materials by 156.7% during the second quarter. Salomon & Ludwin LLC now owns 77 shares of the construction company’s stock worth $43,000 after acquiring an additional 47 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MLM. Raymond James Financial raised their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Bank of America increased their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $525.00 target price (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. Morgan Stanley raised their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, UBS Group boosted their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $632.88.

Martin Marietta Materials Trading Up 0.3%

Shares of Martin Marietta Materials stock opened at $610.09 on Monday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The company has a market capitalization of $36.79 billion, a P/E ratio of 33.84, a P/E/G ratio of 5.57 and a beta of 1.06. The company has a fifty day moving average of $621.68 and a 200 day moving average of $584.18.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Martin Marietta Materials has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Tuesday, September 2nd. Martin Marietta Materials’s payout ratio is presently 17.50%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.