Martin Marietta Materials, Inc. $MLM Shares Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 321.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,817 shares of the construction company’s stock after acquiring an additional 2,912 shares during the period. Atlantic Union Bankshares Corp’s holdings in Martin Marietta Materials were worth $2,406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock worth $1,622,254,000 after buying an additional 10,445 shares in the last quarter. State Street Corp increased its position in shares of Martin Marietta Materials by 2.0% in the 2nd quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after purchasing an additional 56,353 shares during the last quarter. Bank of America Corp DE increased its position in shares of Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after purchasing an additional 565,856 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after purchasing an additional 192,637 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Martin Marietta Materials by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock worth $831,331,000 after purchasing an additional 4,666 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays increased their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, October 20th. UBS Group upped their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday, November 7th. Morgan Stanley raised their price objective on shares of Martin Marietta Materials from $660.00 to $690.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Stifel Nicolaus increased their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, DA Davidson reiterated a “neutral” rating and set a $690.00 price target on shares of Martin Marietta Materials in a research note on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $676.63.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $663.57 on Wednesday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $676.74. The stock has a market capitalization of $40.02 billion, a price-to-earnings ratio of 34.98 and a beta of 1.16. The company has a 50-day simple moving average of $636.90 and a 200-day simple moving average of $620.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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 company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a 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%.

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.