Martin Marietta Materials, Inc. $MLM Stock Holdings Increased by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Martin Marietta Materials stake by 1,735.1% in the third quarter, adding 424,103 shares to hold 448,545 shares valued at about $215.2 million. Institutional investors and hedge funds own 95.04% of the stock.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $634.75; 15 rate the stock Buy, seven Hold and two Sell.
• Quarterly EPS of $5.47 missed the $5.99 consensus, although revenue rose 28.3% year over year to $2.37 billion, topping estimates. The company also announced a quarterly dividend of $0.84 per share.

Aberdeen Group plc lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1,735.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,545 shares of the construction company's stock after acquiring an additional 424,103 shares during the period. Aberdeen Group plc owned approximately 0.75% of Martin Marietta Materials worth $215,216,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. AMG National Trust Bank boosted its position in shares of Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company's stock valued at $291,000 after acquiring an additional 17 shares in the last quarter. AlTi Global Inc. grew its holdings in shares of Martin Marietta Materials by 1.2% in the 1st quarter. AlTi Global Inc. now owns 1,496 shares of the construction company's stock worth $881,000 after purchasing an additional 18 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Martin Marietta Materials by 67.9% during the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. Western Wealth Management LLC increased its holdings in Martin Marietta Materials by 5.1% during the 1st quarter. Western Wealth Management LLC now owns 559 shares of the construction company's stock valued at $329,000 after purchasing an additional 27 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Martin Marietta Materials by 0.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 11,015 shares of the construction company's stock valued at $5,286,000 after purchasing an additional 34 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group cut their price target on Martin Marietta Materials from $662.00 to $640.00 and set a "buy" rating on the stock in a research note on Thursday. DA Davidson raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $610.00 price objective for the company in a report on Friday, October 16th. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Wells Fargo & Company boosted their price target on shares of Martin Marietta Materials from $579.00 to $589.00 and gave the stock an "overweight" rating in a research note on Thursday, November 5th. Finally, BNP Paribas Exane cut their price objective on shares of Martin Marietta Materials from $590.00 to $565.00 and set a "neutral" rating on the stock in a report on Wednesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $634.75.

Martin Marietta Materials Stock Down 0.8%

Shares of MLM opened at $513.02 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.63 and a quick ratio of 0.91. The company has a market cap of $36.49 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.86 and a beta of 1.02. Martin Marietta Materials, Inc. has a one year low of $464.92 and a one year high of $710.97. The firm has a 50 day simple moving average of $503.62 and a two-hundred day simple moving average of $570.27.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.99 by ($0.52). Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company earned $6.85 EPS. The business's quarterly revenue was up 28.3% compared to the same quarter last year. Research analysts forecast that Martin Marietta Materials, Inc. will post 15.30 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, December 1st. Martin Marietta Materials's payout ratio is presently 8.89%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.

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