Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Mirae Asset Global Investments boosted its stake in Martin Marietta Materials by 17.8% in Q4, acquiring 1,778 shares to hold 11,753 shares valued at about $7.318 million.
• The stock opened near $627.96 with a market cap of roughly $37.84 billion; the company missed the quarter with EPS $4.62 versus $4.81 expected and revenue $1.53B versus $1.66B expected.
• Martin Marietta pays a quarterly dividend of $0.83 ($3.32 annualized, 0.5% yield) and carries a consensus analyst rating of "Moderate Buy" with an average target price of $692.06.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,753 shares of the construction company's stock after acquiring an additional 1,778 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Martin Marietta Materials were worth $7,318,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company's stock valued at $4,691,139,000 after acquiring an additional 93,595 shares in the last quarter. Bank of America Corp DE grew its stake in Martin Marietta Materials by 1.1% during the third quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company's stock valued at $1,491,136,000 after acquiring an additional 25,155 shares in the last quarter. Principal Financial Group Inc. grew its stake in Martin Marietta Materials by 9.6% during the third quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company's stock valued at $1,389,428,000 after acquiring an additional 192,637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Martin Marietta Materials by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company's stock valued at $259,344,000 after acquiring an additional 5,038 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in Martin Marietta Materials by 1.2% during the third quarter. Raymond James Financial Inc. now owns 352,294 shares of the construction company's stock valued at $222,044,000 after acquiring an additional 4,071 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 1.0%

MLM opened at $627.96 on Tuesday. The company has a fifty day moving average price of $624.83 and a 200-day moving average price of $629.10. The firm has a market capitalization of $37.84 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.46 and a beta of 1.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. Martin Marietta Materials, Inc. has a one year low of $478.86 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.79 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.85 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were given a dividend of $0.83 per share. The ex-dividend date was Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is 17.66%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Loop Capital lowered shares of Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 price target for the company. in a research report on Wednesday, January 28th. Stephens reduced their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an "overweight" rating for the company in a research report on Friday, February 13th. Weiss Ratings lowered shares of Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, February 23rd. DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Finally, B. Riley Financial upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $700.00 price target for the company in a research report on Thursday, April 2nd. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $692.06.

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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