Nissay Asset Management Corp Japan ADV Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Nissay Asset Management Corp Japan ADV lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,911 shares of the construction company’s stock after selling 153 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Martin Marietta Materials were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its holdings in shares of Martin Marietta Materials by 12.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 316 shares of the construction company’s stock worth $90,000 after buying an additional 34 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Martin Marietta Materials by 33.7% in the first quarter. Meeder Asset Management Inc. now owns 139 shares of the construction company’s stock worth $47,000 after buying an additional 35 shares during the last quarter. Principal Street Partners LLC raised its holdings in shares of Martin Marietta Materials by 1.1% in the fourth quarter. Principal Street Partners LLC now owns 3,327 shares of the construction company’s stock worth $945,000 after buying an additional 37 shares during the last quarter. Colonial Trust Advisors raised its holdings in shares of Martin Marietta Materials by 1.0% in the first quarter. Colonial Trust Advisors now owns 4,010 shares of the construction company’s stock worth $1,347,000 after buying an additional 38 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its holdings in shares of Martin Marietta Materials by 1.4% in the first quarter. Leavell Investment Management Inc. now owns 3,571 shares of the construction company’s stock worth $1,199,000 after buying an additional 50 shares during the last quarter. 91.93% of the stock is owned by institutional investors and hedge funds.

MLM opened at $350.05 on Friday. The company has a current ratio of 3.73, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $21.83 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 2.26 and a beta of 0.65. Martin Marietta Materials, Inc. has a 52-week low of $188.24 and a 52-week high of $383.71. The firm’s fifty day moving average is $358.59.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, May 4th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.54. The business had revenue of $982.40 million for the quarter, compared to the consensus estimate of $968.53 million. Martin Marietta Materials had a net margin of 15.99% and a return on equity of 13.18%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 12.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, May 28th. Martin Marietta Materials’s dividend payout ratio is currently 19.76%.

A number of analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Martin Marietta Materials from $275.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their price objective on shares of Martin Marietta Materials from $335.00 to $385.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 26th. Finally, Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $372.00 to $408.00 and gave the stock an “overweight” rating in a research note on Monday, May 10th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $298.63.

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 used in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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