Martin Marietta Materials, Inc. (NYSE:MLM) Position Cut by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,160 shares of the construction company’s stock after selling 14,894 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Martin Marietta Materials were worth $48,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. First Personal Financial Services bought a new position in Martin Marietta Materials during the 3rd quarter valued at $33,000. Kestra Investment Management LLC bought a new position in Martin Marietta Materials during the 4th quarter valued at $35,000. Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials during the 4th quarter valued at $41,000. R Squared Ltd bought a new position in Martin Marietta Materials during the 4th quarter valued at $41,000. Finally, Larson Financial Group LLC bought a new position in Martin Marietta Materials during the 3rd quarter valued at $49,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

MLM opened at $534.34 on Wednesday. The stock has a fifty day moving average of $533.74 and a 200-day moving average of $548.21. The firm has a market capitalization of $32.66 billion, a P/E ratio of 16.53, a PEG ratio of 4.61 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12-month low of $482.72 and a 12-month high of $633.23. 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 (NYSE:MLM) last released its earnings results 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%. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stephens reduced their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Truist Financial reduced their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley reduced their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

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.