Congress Asset Management Co. Trims Stock Position in Martin Marietta Materials, Inc. $MLM

Congress Asset Management Co. cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,634 shares of the construction company’s stock after selling 4,866 shares during the quarter. Martin Marietta Materials comprises 1.1% of Congress Asset Management Co.’s investment portfolio, making the stock its 18th biggest position. Congress Asset Management Co. owned about 0.40% of Martin Marietta Materials worth $149,210,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Quent Capital LLC bought a new position in shares of Martin Marietta Materials in the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Martin Marietta Materials during the third quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new stake in Martin Marietta Materials during the third quarter valued at $32,000. Twin Peaks Wealth Advisors LLC purchased a new position in Martin Marietta Materials during the second quarter worth about $28,000. Finally, Grey Fox Wealth Advisors LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth about $33,000. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MLM shares. Loop Capital cut Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target on the stock. in a report on Wednesday, January 28th. Stephens cut their price objective on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $706.00 to $702.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $785.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Finally, Wells Fargo & Company dropped their target price on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials Price Performance

MLM opened at $578.22 on Tuesday. 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 stock has a market capitalization of $34.87 billion, a P/E ratio of 30.76, a PEG ratio of 2.20 and a beta of 1.13. The stock has a 50-day moving average price of $645.49 and a 200-day moving average price of $631.00. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.79 earnings per share. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal 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 paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Martin Marietta Materials Company 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.