DAVENPORT & Co LLC Has $217.99 Million Position in Martin Marietta Materials, Inc. $MLM

DAVENPORT & Co LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 348,428 shares of the construction company’s stock after selling 7,808 shares during the period. Martin Marietta Materials comprises about 1.2% of DAVENPORT & Co LLC’s portfolio, making the stock its 13th biggest position. DAVENPORT & Co LLC owned 0.58% of Martin Marietta Materials worth $217,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Quent Capital LLC bought a new stake in Martin Marietta Materials in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new position in Martin Marietta Materials during the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $32,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 12th. 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 report on Thursday, February 26th. Truist Financial set a $710.00 price target on Martin Marietta Materials in a report on Thursday, February 12th. Finally, Zacks Research lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. 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 stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials Trading Down 0.1%

MLM opened at $577.03 on Wednesday. The company has a fifty day moving average price of $643.70 and a two-hundred day moving average price of $630.68. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $710.97. The company has a market cap of $34.80 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13. 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 (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.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 company earned $4.79 EPS. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 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.