Canada Pension Plan Investment Board Has $55.16 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Canada Pension Plan Investment Board trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,840 shares of the construction company’s stock after selling 9,908 shares during the period. Canada Pension Plan Investment Board owned 0.15% of Martin Marietta Materials worth $55,156,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Martin Marietta Materials during the first quarter worth approximately $26,000. Benjamin Edwards Inc. increased its stake in shares of Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Martin Marietta Materials by 74.3% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 3.4 %

Shares of MLM opened at $565.62 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The business’s fifty day moving average is $555.38 and its 200-day moving average is $564.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The firm has a market cap of $34.86 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 3.01 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $2.16 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MLM shares. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Loop Capital lowered their price objective on Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. The Goldman Sachs Group raised their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Citigroup lowered their price objective on Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $617.33.

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.