TD Asset Management Inc Sells 10,683 Shares of Martin Marietta Materials, Inc. $MLM

TD Asset Management Inc lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,516 shares of the construction company’s stock after selling 10,683 shares during the quarter. TD Asset Management Inc owned approximately 0.15% of Martin Marietta Materials worth $57,606,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MLM. Optima Capital LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $32,000. Union Bancaire Privee UBP SA bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $36,000. Finally, Osterweis Capital Management Inc. bought a new position in Martin Marietta Materials in the 2nd quarter valued at approximately $37,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MLM. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley decreased their target price 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. Oppenheimer began coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating for the company. Royal Bank Of Canada decreased their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research report on Monday, May 4th. Finally, Stephens decreased their target price on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $576.76 on Friday. The company has a market cap of $34.63 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $591.32 and a 200-day moving average of $620.00.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 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 net margin of 38.67% and a return on equity of 10.27%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

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.