Northern Trust Corp Has $294.04 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Northern Trust Corp lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLMFree Report) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 589,364 shares of the construction company’s stock after selling 26,103 shares during the quarter. Northern Trust Corp owned approximately 0.95% of Martin Marietta Materials worth $294,040,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in Martin Marietta Materials by 25.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock valued at $4,272,000 after acquiring an additional 1,728 shares during the period. Simplicity Solutions LLC increased its position in Martin Marietta Materials by 166.1% during the 4th quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after buying an additional 1,701 shares during the period. Hudson Bay Capital Management LP bought a new position in Martin Marietta Materials during the 3rd quarter worth $3,284,000. Everpar Advisors LLC bought a new position in Martin Marietta Materials during the 4th quarter worth $1,203,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Martin Marietta Materials by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,499 shares of the construction company’s stock worth $29,161,000 after buying an additional 4,383 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insider Activity

In other news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at $36,179,301.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of several recent research reports. Stephens increased their price objective on Martin Marietta Materials from $575.00 to $605.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Citigroup increased their price objective on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. The Goldman Sachs Group raised their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and raised their price target for the stock from $376.00 to $543.00 in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $610.27.

Read Our Latest Analysis on Martin Marietta Materials

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $550.87 on Friday. The stock’s 50-day simple moving average is $589.83 and its 200 day simple moving average is $547.79. The firm has a market capitalization of $33.96 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.41 and a beta of 0.93. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67.

Martin Marietta Materials (NYSE:MLMGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. Martin Marietta Materials’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 23.38 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

Martin Marietta Materials Company Profile

(Free Report)

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.

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

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