Resona Asset Management Co. Ltd. Has $12.28 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Resona Asset Management Co. Ltd. trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.0% in the third quarter, Holdings Channel.com reports. The firm owned 19,530 shares of the construction company’s stock after selling 1,247 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Martin Marietta Materials were worth $12,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after purchasing an additional 565,856 shares during the last quarter. Norges Bank acquired a new position in Martin Marietta Materials in the second quarter valued at approximately $233,811,000. State Street Corp lifted its holdings in Martin Marietta Materials by 2.0% in the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after buying an additional 56,353 shares during the period. Shellback Capital LP bought a new position in Martin Marietta Materials in the second quarter valued at approximately $26,089,000. Finally, Man Group plc bought a new position in Martin Marietta Materials in the second quarter valued at approximately $25,458,000. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

MLM has been the subject of several recent research reports. Citigroup upped their target price on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. B. Riley started coverage on Martin Marietta Materials in a research note on Thursday, January 15th. They issued a “neutral” rating and a $700.00 target price on the stock. Wells Fargo & Company reduced their target price on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Barclays upped their price target on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Morgan Stanley increased their price target on shares of Martin Marietta Materials from $660.00 to $690.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $670.63.

Martin Marietta Materials Stock Down 0.4%

Shares of Martin Marietta Materials stock opened at $649.36 on Monday. The company has a market capitalization of $39.16 billion, a P/E ratio of 34.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The business has a 50-day moving average of $629.55 and a two-hundred day moving average of $615.81. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $668.83.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is 17.50%.

Martin Marietta Materials Company 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.