Tran Capital Management L.P. Decreases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Tran Capital Management L.P. lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 35.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,155 shares of the construction company’s stock after selling 30,600 shares during the period. Martin Marietta Materials makes up approximately 3.8% of Tran Capital Management L.P.’s portfolio, making the stock its 13th largest position. Tran Capital Management L.P. owned 0.09% of Martin Marietta Materials worth $34,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $26,000. Riverview Trust Co purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $27,000. Finally, Benjamin Edwards Inc. lifted its position in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE MLM traded down $1.51 during trading on Thursday, reaching $533.32. The company’s stock had a trading volume of 186,620 shares, compared to its average volume of 446,820. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The firm has a market cap of $32.87 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.37 and a beta of 0.91. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The business’s fifty day moving average price is $570.77 and its 200-day moving average price is $557.62.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $2.16 earnings per share. Martin Marietta Materials’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, analysts anticipate that Martin Marietta Materials, Inc. will post 23.1 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.56%. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Analyst Ratings Changes

MLM has been the subject of several recent analyst reports. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus reduced their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup boosted their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Finally, The Goldman Sachs Group boosted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $610.25.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.