Truist Financial Corp Sells 981 Shares of Martin Marietta Materials, Inc. $MLM

Truist Financial Corp decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,711 shares of the construction company’s stock after selling 981 shares during the quarter. Truist Financial Corp’s holdings in Martin Marietta Materials were worth $11,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Quent Capital LLC acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the second quarter valued at approximately $28,000. Grey Fox Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the third quarter valued at approximately $33,000. NewSquare Capital LLC raised its holdings in Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after purchasing an additional 23 shares during the period. Finally, Clearstead Trust LLC boosted its position in shares of Martin Marietta Materials by 93.8% during the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after purchasing an additional 30 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 0.2%

NYSE:MLM opened at $652.07 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97. The company has a market cap of $39.33 billion, a PE ratio of 34.37 and a beta of 1.15. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $668.83. The stock has a 50-day simple moving average of $634.99 and a 200 day simple moving average of $618.61.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Martin Marietta Materials’s payout ratio is currently 17.50%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. B. Riley assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, January 15th. They issued a “neutral” rating and a $700.00 price objective for the company. Citigroup increased their price target on Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target on the stock. in a research report on Wednesday. Raymond James Financial boosted their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $676.63.

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.