Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 57.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 357 shares of the construction company’s stock after selling 487 shares during the quarter. Global Retirement Partners LLC’s holdings in Martin Marietta Materials were worth $184,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after purchasing an additional 704,460 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock worth $1,441,663,000 after buying an additional 506,705 shares in the last quarter. FMR LLC raised its holdings in Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Martin Marietta Materials by 7,608.2% in the third quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after buying an additional 179,020 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $489.72 on Wednesday. The company’s 50 day moving average price is $528.99 and its two-hundred day moving average price is $546.80. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $482.72 and a 52 week high of $633.23. The stock has a market cap of $29.93 billion, a P/E ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is currently 9.77%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. UBS Group initiated coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. Truist Financial cut their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Raymond James decreased their price target on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $639.43.

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.