UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 46,228 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• UBS Asset Management increased its Martin Marietta Materials position by 13.6% in the second quarter, acquiring 46,228 shares for a total of 386,046 shares valued at approximately $222.6 million. Institutional investors and hedge funds collectively own 95.04% of the company.
• Martin Marietta reported quarterly EPS of $5.00, beating estimates of $4.76, while revenue rose 21% year over year to $1.95 billion. Despite the earnings beat, shares were trading near a one-year low at $518.75, down 2.3%.
• The company raised its quarterly dividend to $0.84 per share, equivalent to an annualized $3.36 payout and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $665.88.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,046 shares of the construction company's stock after acquiring an additional 46,228 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.64% of Martin Marietta Materials worth $222,633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia purchased a new position in Martin Marietta Materials during the 2nd quarter worth $3,650,000. Northwestern Mutual Wealth Management Co. raised its stake in Martin Marietta Materials by 14,332.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock valued at $48,438,000 after buying an additional 77,253 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company's stock worth $1,524,853,000 after acquiring an additional 836,120 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Martin Marietta Materials by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company's stock worth $80,272,000 after acquiring an additional 5,227 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in shares of Martin Marietta Materials by 11.2% during the fourth quarter. Stephens Inc. AR now owns 51,326 shares of the construction company's stock worth $31,958,000 after acquiring an additional 5,150 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 2.3%

NYSE MLM opened at $518.75 on Tuesday. The company has a market capitalization of $31.16 billion, a PE ratio of 12.75, a P/E/G ratio of 2.29 and a beta of 1.11. The company has a fifty day moving average of $560.97 and a 200 day moving average of $589.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. Martin Marietta Materials, Inc. has a 1 year low of $517.65 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business's quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.43 EPS. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. This is a boost from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials's payout ratio is currently 8.16%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MLM. Raymond James Financial set a $660.00 price objective on shares of Martin Marietta Materials in a report on Friday, July 31st. Wells Fargo & Company dropped their target price on shares of Martin Marietta Materials from $616.00 to $581.00 and set an "equal weight" rating on the stock in a research report on Friday, July 31st. Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research note on Tuesday, August 4th. Royal Bank Of Canada raised their price target on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, Weiss Ratings downgraded shares of Martin Marietta Materials from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $665.88.

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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