Dai ichi Life Insurance Company Ltd Has $1.23 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Dai ichi Life Insurance Company Ltd raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 54.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,275 shares of the construction company’s stock after purchasing an additional 800 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Martin Marietta Materials were worth $1,225,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MLM. Newbridge Financial Services Group Inc. increased its holdings in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC grew its position in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. First Personal Financial Services bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $33,000. Fortitude Family Office LLC raised its holdings in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MLM shares. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial decreased their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Stephens dropped their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $515.00 to $640.00 in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $644.46.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $595.35 on Thursday. The company’s fifty day moving average is $569.17 and its two-hundred day moving average is $556.36. Martin Marietta Materials, Inc. has a 52-week low of $456.83 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 4.10 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.94 EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

About Martin Marietta Materials

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.