Martin Marietta Materials, Inc. $MLM Position Boosted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 54.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,407 shares of the construction company’s stock after purchasing an additional 844 shares during the period. Crossmark Global Holdings Inc.’s holdings in Martin Marietta Materials were worth $1,517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MLM. Vanguard Group Inc. lifted its stake in Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. JPMorgan Chase & Co. grew its position in Martin Marietta Materials by 0.4% in 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 during the last quarter. State Street Corp increased its holdings in shares of Martin Marietta Materials by 2.0% in the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after buying an additional 56,353 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Martin Marietta Materials by 31.9% in the second 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 buying an additional 565,856 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 9.6% during 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 acquiring an additional 192,637 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. DA Davidson set a $680.00 price objective on Martin Marietta Materials in a research note on Thursday, February 12th. Truist Financial set a $710.00 target price on Martin Marietta Materials in a research report on Thursday, February 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a research report on Wednesday, January 28th. Finally, Citigroup lifted their price target on Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Eight investment 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. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Hold” and a consensus price target of $697.13.

Martin Marietta Materials Trading Down 3.5%

Martin Marietta Materials stock opened at $611.01 on Monday. The company has a 50 day moving average price of $657.46 and a 200 day moving average price of $633.14. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $710.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The firm has a market capitalization of $36.85 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 2.34 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last announced 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $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. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.83 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 17.66%.

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.