Mitsubishi UFJ Asset Management UK Ltd. Invests $2.38 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,500 shares of the construction company’s stock, valued at approximately $2,377,000. Martin Marietta Materials makes up approximately 1.0% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 28th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Martin Marietta Materials by 1.0% during the second quarter. Vanguard Group Inc. now owns 6,837,038 shares of the construction company’s stock worth $1,573,270,000 after buying an additional 65,205 shares in the last quarter. State Street Corp lifted its stake in Martin Marietta Materials by 2.8% during the third quarter. State Street Corp now owns 2,676,839 shares of the construction company’s stock worth $733,722,000 after purchasing an additional 72,397 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Martin Marietta Materials by 7.4% during the third quarter. Eagle Asset Management Inc. now owns 523,809 shares of the construction company’s stock worth $143,576,000 after purchasing an additional 36,063 shares during the last quarter. Carillon Tower Advisers Inc. lifted its stake in Martin Marietta Materials by 5.7% during the third quarter. Carillon Tower Advisers Inc. now owns 480,953 shares of the construction company’s stock worth $131,829,000 after purchasing an additional 25,870 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Martin Marietta Materials by 119.6% during the third quarter. CIBC Private Wealth Group LLC now owns 391,686 shares of the construction company’s stock worth $107,361,000 after purchasing an additional 213,292 shares during the last quarter. 99.06% of the stock is owned by institutional investors and hedge funds.

MLM stock traded up $2.06 during mid-day trading on Friday, reaching $265.07. The company had a trading volume of 8,122 shares, compared to its average volume of 597,120. The company has a quick ratio of 1.35, a current ratio of 2.29 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $16.30 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.00 and a beta of 1.11. Martin Marietta Materials, Inc. has a one year low of $171.84 and a one year high of $281.82. The stock’s 50-day simple moving average is $273.66 and its two-hundred day simple moving average is $258.22.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, October 29th. The construction company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.46. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Martin Marietta Materials had a return on equity of 11.52% and a net margin of 12.35%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business posted $2.85 earnings per share. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 9.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, November 29th. Martin Marietta Materials’s payout ratio is 27.19%.

Several brokerages recently issued reports on MLM. Stifel Nicolaus restated a “buy” rating and set a $300.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday. DA Davidson raised their price objective on Martin Marietta Materials to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays restated a “hold” rating and set a $284.00 price objective on shares of Martin Marietta Materials in a research note on Wednesday, October 16th. Deutsche Bank began coverage on Martin Marietta Materials in a research note on Friday, January 3rd. They set a “buy” rating and a $198.00 price objective on the stock. Finally, Exane BNP Paribas began coverage on Martin Marietta Materials in a research note on Wednesday, October 9th. They set an “underperform” rating on the stock. Three analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $271.31.

In related news, Director John J. Koraleski bought 1,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $260.23 per share, for a total transaction of $260,230.00. Following the completion of the purchase, the director now owns 3,250 shares of the company’s stock, valued at approximately $845,747.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.73% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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.

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

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