Mawer Investment Management Ltd. Buys 15,316 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mawer Investment Management Ltd. grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 283,488 shares of the construction company’s stock after purchasing an additional 15,316 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Martin Marietta Materials were worth $152,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC grew its holdings in Martin Marietta Materials by 57.8% during the 3rd quarter. Quest Partners LLC now owns 1,504 shares of the construction company’s stock worth $810,000 after acquiring an additional 551 shares in the last quarter. AMG National Trust Bank boosted its stake in shares of Martin Marietta Materials by 16.5% during the third quarter. AMG National Trust Bank now owns 438 shares of the construction company’s stock valued at $236,000 after purchasing an additional 62 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Martin Marietta Materials by 33.5% during the third quarter. Gilbert & Cook Inc. now owns 1,738 shares of the construction company’s stock valued at $935,000 after buying an additional 436 shares during the period. Schear Investment Advisers LLC raised its stake in Martin Marietta Materials by 17.6% in the third quarter. Schear Investment Advisers LLC now owns 2,978 shares of the construction company’s stock worth $1,603,000 after buying an additional 446 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its holdings in Martin Marietta Materials by 2.3% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 8,964 shares of the construction company’s stock worth $4,825,000 after buying an additional 201 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM traded down $0.94 during trading on Monday, reaching $582.09. 4,986 shares of the company’s stock were exchanged, compared to its average volume of 445,511. The business has a 50 day moving average price of $557.57 and a 200 day moving average price of $556.43. The company has a market capitalization of $35.58 billion, a P/E ratio of 18.17, a PEG ratio of 3.90 and a beta of 0.90. Martin Marietta Materials, Inc. has a fifty-two week low of $451.37 and a fifty-two week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 EPS. As a group, analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley raised their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Citigroup lowered their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

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.