Principal Financial Group Inc. Has $1.35 Billion Stake in Martin Marietta Materials, Inc. $MLM

Principal Financial Group Inc. lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,170,746 shares of the construction company’s stock after selling 33,679 shares during the period. Martin Marietta Materials accounts for approximately 0.7% of Principal Financial Group Inc.’s portfolio, making the stock its 28th largest position. Principal Financial Group Inc.’s holdings in Martin Marietta Materials were worth $1,351,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Martin Marietta Materials by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after purchasing an additional 93,595 shares during the period. Bank of America Corp DE lifted its position in shares of Martin Marietta Materials by 1.1% in the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock worth $1,491,136,000 after purchasing an additional 25,155 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Martin Marietta Materials by 1.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock valued at $259,344,000 after acquiring an additional 5,038 shares during the period. Raymond James Financial Inc. lifted its position in shares of Martin Marietta Materials by 1.2% during the 3rd quarter. Raymond James Financial Inc. now owns 352,294 shares of the construction company’s stock valued at $222,044,000 after acquiring an additional 4,071 shares during the period. Finally, Douglass Winthrop Advisors LLC lifted its position in shares of Martin Marietta Materials by 0.8% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock valued at $146,372,000 after acquiring an additional 1,939 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $602.51 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The business has a 50-day simple moving average of $615.35 and a 200 day simple moving average of $627.82. Martin Marietta Materials, Inc. has a one year low of $530.86 and a one year high of $710.97. The firm has a market capitalization of $36.31 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 2.29 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.2 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a dividend of $0.83 per share. The ex-dividend date was 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 7.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MLM. Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a research report on Monday, April 27th. DA Davidson set a $680.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Stephens dropped their target price on shares of 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. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada decreased their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research report on Monday. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $688.81.

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.