Sumitomo Mitsui Trust Group Inc. Sells 544 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Sumitomo Mitsui Trust Group Inc. cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,426 shares of the construction company’s stock after selling 544 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Martin Marietta Materials worth $70,464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MLM. Asset Dedication LLC grew its position in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the third quarter worth $33,000. R Squared Ltd purchased a new stake in Martin Marietta Materials during the fourth quarter valued at $41,000. Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials in the fourth quarter valued at about $41,000. Finally, Larson Financial Group LLC purchased a new position in Martin Marietta Materials in the third quarter worth about $49,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $538.38 on Monday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $540.50 and a 200-day simple moving average of $550.16. Martin Marietta Materials, Inc. has a 52-week low of $490.05 and a 52-week high of $633.23. The firm has a market capitalization of $32.91 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 4.62 and a beta of 0.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MLM shares. Raymond James reduced their price target on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, January 16th. Loop Capital upped their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $648.71.

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.