Martin Marietta Materials, Inc. $MLM Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,975 shares of the construction company’s stock after selling 1,065 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Martin Marietta Materials were worth $20,153,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Integrated Wealth Concepts LLC lifted its position in Martin Marietta Materials by 6.6% during the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after purchasing an additional 49 shares during the period. Empowered Funds LLC grew its position in Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Martin Marietta Materials by 73.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 781 shares of the construction company’s stock valued at $429,000 after buying an additional 330 shares during the last quarter. Finally, Candriam S.C.A. lifted its holdings in shares of Martin Marietta Materials by 10.6% in the 2nd quarter. Candriam S.C.A. now owns 4,486 shares of the construction company’s stock valued at $2,463,000 after buying an additional 430 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.3%

Shares of MLM stock opened at $585.44 on Tuesday. 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 $35.31 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.30 and a beta of 1.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The stock has a 50 day simple moving average of $653.10 and a 200-day simple moving average of $632.54.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.79 EPS. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

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

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.