BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $5.54 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,284 shares of the construction company’s stock after selling 1,536 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Martin Marietta Materials were worth $5,535,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. grew its stake in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares in the last quarter. Asset Dedication LLC increased its stake in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. First Personal Financial Services acquired a new position in Martin Marietta Materials during the third quarter valued at approximately $33,000. Fortitude Family Office LLC raised its position in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Martin Marietta Materials during the second quarter worth $43,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MLM. Morgan Stanley lifted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Citigroup dropped their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Loop Capital lifted their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stephens dropped their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Stock Down 1.1 %

Shares of NYSE:MLM opened at $593.22 on Tuesday. The firm has a market cap of $36.26 billion, a P/E ratio of 18.49, a P/E/G ratio of 4.07 and a beta of 0.90. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The business has a fifty day simple moving average of $572.14 and a 200 day simple moving average of $555.91. 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 issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business earned $6.94 earnings per share. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. Analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Martin Marietta Materials 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.