Martin Marietta Materials, Inc. $MLM Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management boosted its stake in Martin Marietta by 4.3% in Q4 to 126,524 shares (0.21% of the company), and institutional investors collectively own about 95.04% of the stock.
• Martin Marietta beat recent quarterly estimates with EPS of $1.93 vs. $1.78 and revenue of $1.36B (up 17.2% year-over-year), and analysts hold a consensus "Moderate Buy" with a target price of $688.81.
• Shares traded around $600.75 (down 2.4%), with a market cap of $36.07B and a P/E of 14.32; the company pays a quarterly dividend of $0.83 ($3.32 annual, yield ~0.6%).

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,524 shares of the construction company's stock after buying an additional 5,227 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.21% of Martin Marietta Materials worth $80,272,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Optima Capital LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth $25,000. Quent Capital LLC acquired a new stake in Martin Marietta Materials in the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials in the third quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the third quarter worth $32,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the third quarter worth $33,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the topic of several analyst reports. Stephens dropped their target price on Martin Marietta Materials from $740.00 to $735.00 and set an "overweight" rating on the stock in a research report on Friday, February 13th. Wells Fargo & Company increased their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. B. Riley Financial raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $700.00 price target for the company in a research note on Thursday, April 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Finally, Morgan Stanley decreased their price target on Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating for the company in a research note on Monday, April 6th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $688.81.

Martin Marietta Materials Trading Down 2.4%

NYSE:MLM opened at $600.75 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $532.80 and a 1 year high of $710.97. The stock has a market cap of $36.07 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.24 and a beta of 1.13. The business has a fifty day moving average of $610.46 and a 200-day moving average of $627.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. The company's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.27 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 7.91%.

About Martin Marietta Materials

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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