Renaissance Investment Group LLC lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 20.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,364 shares of the construction company’s stock after selling 2,360 shares during the quarter. Renaissance Investment Group LLC’s holdings in Martin Marietta Materials were worth $5,400,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Martin Marietta Materials by 14,332.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock worth $48,438,000 after acquiring an additional 77,253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Martin Marietta Materials by 17.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock worth $7,318,000 after purchasing an additional 1,778 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth $18,636,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Martin Marietta Materials by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 126,524 shares of the construction company’s stock worth $80,272,000 after purchasing an additional 5,227 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Martin Marietta Materials by 51.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Institutional investors own 95.04% of the company’s stock.
Analysts Set New Price Targets
MLM has been the subject of several recent research reports. UBS Group cut their price target on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating for the company in a report on Monday. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Raymond James Financial set a $660.00 price objective on Martin Marietta Materials in a research report on Friday, July 31st. Finally, Stephens cut their price objective on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $670.00.
Martin Marietta Materials Trading Down 2.7%
Shares of MLM stock opened at $538.51 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. The stock has a fifty day simple moving average of $576.59 and a two-hundred day simple moving average of $603.97. The firm has a market capitalization of $32.35 billion, a PE ratio of 13.23, a PEG ratio of 2.37 and a beta of 1.11. Martin Marietta Materials, Inc. has a 52-week low of $523.48 and a 52-week high of $710.97.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.43 earnings per share. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.25 EPS for the current fiscal year.
Martin Marietta Materials Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.16%.
Martin Marietta Materials 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.
Read More
- Five stocks we like better than Martin Marietta Materials
- Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
- 4 Oil and Gas ETF Plays as Prices Stay Sky-High
- What Tesla Stands to Lose If It Walks Away From China
- Disney Sets Up for a Magical Year in 2027
Receive News & Ratings for Martin Marietta Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Marietta Materials and related companies with MarketBeat.com's FREE daily email newsletter.
