Alkeon Capital Management LLC Sells 55,000 Shares of Martin Marietta Materials, Inc. $MLM

Alkeon Capital Management LLC decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 747,351 shares of the construction company’s stock after selling 55,000 shares during the quarter. Martin Marietta Materials comprises 0.7% of Alkeon Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Alkeon Capital Management LLC owned about 1.24% of Martin Marietta Materials worth $471,040,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Quent Capital LLC bought a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $32,000. Grey Fox Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the 3rd quarter valued at $33,000. Finally, Clearstead Trust LLC boosted its holdings in Martin Marietta Materials by 93.8% during the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after acquiring an additional 30 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Truist Financial set a $710.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Zacks Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. Wells Fargo & Company reduced their target price on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials Stock Down 0.6%

NYSE:MLM opened at $584.08 on Friday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $710.97. The company has a market cap of $35.23 billion, a PE ratio of 31.07, a P/E/G ratio of 2.30 and a beta of 1.13. The company’s 50 day moving average is $654.23 and its two-hundred day moving average is $632.62.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.79 earnings per share. Analysts anticipate 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 given 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 yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 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.