Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Bamco Inc. NY

Bamco Inc. NY lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 85.4% during the third quarter, Holdings Channel reports. The firm owned 10,068 shares of the construction company’s stock after selling 59,017 shares during the quarter. Bamco Inc. NY’s holdings in Martin Marietta Materials were worth $5,419,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares during the last quarter. FMR LLC increased its holdings in shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the period. Public Sector Pension Investment Board raised its position in Martin Marietta Materials by 7,608.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock valued at $97,624,000 after purchasing an additional 179,020 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after purchasing an additional 164,503 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after purchasing an additional 106,002 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 0.7 %

MLM stock opened at $588.86 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $573.20 and its 200 day moving average price is $555.97. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The company has a market cap of $35.99 billion, a P/E ratio of 18.35, a P/E/G ratio of 4.02 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $6.94 EPS. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. UBS Group started coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Citigroup cut their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Truist Financial lowered their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Company 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.