Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Reduced by Ieq Capital LLC

Ieq Capital LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,356 shares of the construction company’s stock after selling 1,292 shares during the quarter. Ieq Capital LLC’s holdings in Martin Marietta Materials were worth $1,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the last quarter. FMR LLC boosted its holdings in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Public Sector Pension Investment Board increased its position in Martin Marietta Materials by 7,608.2% during the third quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock worth $97,624,000 after buying an additional 179,020 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Martin Marietta Materials by 54.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after buying an additional 164,503 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

MLM has been the subject of several recent analyst reports. Citigroup decreased their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, January 6th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price on the stock. Finally, BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Up 0.2 %

MLM opened at $490.60 on Tuesday. The company has a market capitalization of $29.99 billion, a P/E ratio of 15.17, a P/E/G ratio of 4.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm’s fifty day moving average price is $528.99 and its two-hundred day moving average price is $546.80. Martin Marietta Materials, Inc. has a fifty-two week low of $482.72 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Martin Marietta Materials 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.