Martin Marietta Materials, Inc. $MLM Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,326 shares of the construction company’s stock after selling 1,320 shares during the quarter. Martin Marietta Materials comprises 1.2% of Heritage Investors Management Corp’s investment portfolio, making the stock its 22nd biggest holding. Heritage Investors Management Corp owned about 0.11% of Martin Marietta Materials worth $40,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings 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 acquiring an additional 565,856 shares during the period. Norges Bank purchased a new position in Martin Marietta Materials during the 2nd quarter worth $233,811,000. Principal Financial Group Inc. increased its stake in Martin Marietta Materials by 9.6% in the third 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 during the period. State Street Corp raised 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 during the last quarter. Finally, Shellback Capital LP acquired a new stake in shares of Martin Marietta Materials during the second quarter worth about $26,089,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MLM. JPMorgan Chase & Co. boosted their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. UBS Group boosted their target price on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday, November 7th. Jefferies Financial Group upped their price target on Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Loop Capital downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a report on Wednesday, January 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Martin Marietta Materials from $610.00 to $631.00 and gave the company an “equal weight” rating in a research note on Thursday. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $676.63.

Martin Marietta Materials Stock Up 0.4%

Shares of NYSE MLM opened at $654.61 on Tuesday. The stock has a market capitalization of $39.48 billion, a price-to-earnings ratio of 34.51 and a beta of 1.15. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $668.83. The firm has a 50-day moving average price of $635.99 and a 200 day moving average price of $619.83. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

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

Martin Marietta Materials Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 annualized dividend and a yield of 0.5%. 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.