Los Angeles Capital Management LLC Sells 6,628 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Los Angeles Capital Management LLC trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 83.4% in the third quarter, Holdings Channel.com reports. The firm owned 1,320 shares of the construction company’s stock after selling 6,628 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Martin Marietta Materials were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in Martin Marietta Materials during the 1st quarter worth approximately $62,000. Amundi Pioneer Asset Management Inc. boosted its position in Martin Marietta Materials by 18.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 26,779 shares of the construction company’s stock worth $5,387,000 after acquiring an additional 4,176 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Martin Marietta Materials by 12.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,506 shares of the construction company’s stock worth $4,048,000 after acquiring an additional 1,291 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Martin Marietta Materials by 117.4% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 263 shares of the construction company’s stock worth $93,000 after acquiring an additional 142 shares during the last quarter. Finally, Atria Investments LLC boosted its position in Martin Marietta Materials by 22.9% during the 2nd quarter. Atria Investments LLC now owns 5,899 shares of the construction company’s stock worth $2,075,000 after acquiring an additional 1,099 shares during the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on MLM shares. DA Davidson upped their price target on Martin Marietta Materials from $425.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 3rd. Stephens increased their price objective on Martin Marietta Materials from $430.00 to $475.00 and gave the company an “overweight” rating in a report on Thursday, November 4th. Loop Capital raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $390.00 price objective for the company in a report on Wednesday, October 6th. Citigroup increased their price objective on Martin Marietta Materials from $435.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, October 26th. Finally, Truist Securities raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $525.00 price objective for the company in a report on Friday, December 10th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Buy” and an average target price of $457.54.

Shares of NYSE MLM opened at $402.63 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 5.46 and a current ratio of 6.65. Martin Marietta Materials, Inc. has a 52 week low of $280.38 and a 52 week high of $446.46. The stock has a market capitalization of $25.12 billion, a P/E ratio of 34.56 and a beta of 0.71. The stock’s fifty day moving average is $425.58 and its 200 day moving average is $387.27.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, November 2nd. The construction company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Martin Marietta Materials had a return on equity of 12.38% and a net margin of 14.30%. During the same period last year, the firm posted $4.71 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 11.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 1st were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 20.94%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregates products only.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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