Martin Marietta Materials, Inc. $MLM Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,195,794 shares of the construction company’s stock after selling 35,149 shares during the quarter. Baillie Gifford & Co. owned approximately 1.98% of Martin Marietta Materials worth $753,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. UniSuper Management Pty Ltd boosted its holdings in shares of Martin Marietta Materials by 8.7% during the third quarter. UniSuper Management Pty Ltd now owns 6,345 shares of the construction company’s stock worth $3,999,000 after purchasing an additional 509 shares during the last quarter. FWG Holdings LLC acquired a new position in Martin Marietta Materials in the third quarter valued at $221,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in Martin Marietta Materials in the third quarter valued at $202,000. BIP Wealth LLC lifted its position in Martin Marietta Materials by 13.3% during the third quarter. BIP Wealth LLC now owns 494 shares of the construction company’s stock worth $311,000 after buying an additional 58 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new stake in Martin Marietta Materials in the 3rd quarter worth about $11,360,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $649.36 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. The company has a market cap of $39.16 billion, a PE ratio of 34.23 and a beta of 1.15. The company’s fifty day simple moving average is $629.55 and its 200-day simple moving average is $615.08. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $668.83.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $2.06 billion. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Jefferies Financial Group upped their price target on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. increased their price target on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $660.00 to $690.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Finally, UBS Group upped their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $670.63.

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.