Mitsubishi UFJ Asset Management Co. Ltd. Has $49.93 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 96,634 shares of the construction company’s stock after acquiring an additional 8,639 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Martin Marietta Materials were worth $49,928,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC raised its position in Martin Marietta Materials by 54,277.3% in the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after purchasing an additional 916,743 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares during the period. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after buying an additional 506,705 shares during the last quarter. Raymond James Financial Inc. bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $196,374,000. Finally, Amundi boosted its position in Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after buying an additional 148,065 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $477.92 on Friday. Martin Marietta Materials, Inc. has a one year low of $448.50 and a one year high of $633.23. The company has a market cap of $29.14 billion, a PE ratio of 14.78, a P/E/G ratio of 4.45 and a beta of 0.89. The stock has a 50-day moving average of $507.03 and a 200-day moving average of $538.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insiders Place Their Bets

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the sale, the executive vice president now directly owns 3,523 shares of the company’s stock, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael J. Petro bought 550 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at $4,082,514.45. The trade was a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MLM shares. BNP Paribas downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Barclays dropped their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $628.64.

Martin Marietta Materials Company Profile

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.