The Manufacturers Life Insurance Company Invests $17.39 Million in Martin Marietta Materials, Inc. $MLM

The Manufacturers Life Insurance Company purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 30,157 shares of the construction company’s stock, valued at approximately $17,392,000. The Manufacturers Life Insurance Company owned about 0.05% of Martin Marietta Materials as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC increased its holdings in shares of Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at $31,000. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at $35,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Martin Marietta Materials during the second quarter valued at $37,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $531.11 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $522.19 and a 52 week high of $710.97. The firm has a market capitalization of $31.90 billion, a P/E ratio of 13.05, a PEG ratio of 2.28 and a beta of 1.11. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $562.81 and a 200-day moving average price of $591.20.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.43 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 1st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 8.16%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of recent analyst reports. Royal Bank Of Canada boosted their target price on Martin Marietta Materials from $610.00 to $620.00 and gave the stock a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Martin Marietta Materials from $700.00 to $680.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Wolfe Research set a $648.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. UBS Group dropped their target price on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $665.88.

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.