Clearbridge Investments LLC cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 244,152 shares of the construction company’s stock after selling 8,718 shares during the quarter. Clearbridge Investments LLC’s holdings in Martin Marietta Materials were worth $152,024,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Martin Marietta Materials by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the period. Bank of America Corp DE grew its position in shares of Martin Marietta Materials by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock valued at $1,491,136,000 after purchasing an additional 25,155 shares during the period. Geode Capital Management LLC lifted its stake in Martin Marietta Materials by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after acquiring an additional 10,743 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Martin Marietta Materials by 0.7% in the 4th quarter. King Luther Capital Management Corp now owns 690,128 shares of the construction company’s stock valued at $429,715,000 after acquiring an additional 5,025 shares in the last quarter. Finally, Norges Bank bought a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $354,681,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Martin Marietta Materials Price Performance
Martin Marietta Materials stock opened at $576.76 on Monday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $34.63 billion, a PE ratio of 13.75, a P/E/G ratio of 2.44 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The stock has a 50-day moving average price of $591.32 and a two-hundred day moving average price of $620.21.
Martin Marietta Materials Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be given a $0.83 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Citigroup decreased their price objective on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a report on Monday, May 4th. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price on the stock in a report on Thursday, April 2nd. DA Davidson set a $680.00 price objective on Martin Marietta Materials in a research note on Thursday, February 12th. Finally, Barclays reduced their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $681.94.
Check Out Our Latest Analysis on Martin Marietta Materials
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.
In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.
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