American Century Companies Inc. Has $74.81 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

American Century Companies Inc. trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 19.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,697 shares of the construction company’s stock after selling 28,169 shares during the quarter. American Century Companies Inc. owned about 0.20% of Martin Marietta Materials worth $74,812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Erste Asset Management GmbH increased its position in Martin Marietta Materials by 91.7% in the 3rd quarter. Erste Asset Management GmbH now owns 1,150 shares of the construction company’s stock valued at $714,000 after acquiring an additional 550 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Martin Marietta Materials by 0.7% during the third quarter. Handelsbanken Fonder AB now owns 34,431 shares of the construction company’s stock worth $21,701,000 after purchasing an additional 255 shares in the last quarter. TIAA Trust National Association acquired a new position in shares of Martin Marietta Materials during the third quarter worth approximately $222,000. Camrose Capital Investment Partners LLP grew its stake in shares of Martin Marietta Materials by 11.0% during the third quarter. Camrose Capital Investment Partners LLP now owns 95,619 shares of the construction company’s stock valued at $60,267,000 after purchasing an additional 9,514 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Martin Marietta Materials by 4.2% in the third quarter. DNB Asset Management AS now owns 12,649 shares of the construction company’s stock valued at $7,972,000 after purchasing an additional 505 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MLM. Morgan Stanley reaffirmed an “overweight” rating and set a $706.00 price objective on shares of Martin Marietta Materials in a report on Tuesday, February 17th. Truist Financial set a $710.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $630.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Hold” and a consensus price target of $697.13.

Martin Marietta Materials Trading Down 1.3%

NYSE MLM opened at $656.97 on Wednesday. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The stock has a 50-day simple moving average of $657.99 and a 200 day simple moving average of $632.47. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $39.62 billion, a PE ratio of 34.95, a P/E/G ratio of 2.56 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.79 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is 17.66%.

About Martin Marietta Materials

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.