Martin Marietta Materials, Inc. $MLM Position Decreased by Lathrop Investment Management Co.

Lathrop Investment Management Co. decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,247 shares of the construction company’s stock after selling 1,016 shares during the quarter. Martin Marietta Materials accounts for approximately 3.6% of Lathrop Investment Management Co.’s portfolio, making the stock its 4th largest position. Lathrop Investment Management Co. owned about 0.05% of Martin Marietta Materials worth $19,694,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MLM. Atlantic Union Bankshares Corp increased its stake in Martin Marietta Materials by 321.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after purchasing an additional 2,912 shares during the period. Atika Capital Management LLC grew its holdings in shares of Martin Marietta Materials by 30.4% during the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock worth $39,818,000 after acquiring an additional 16,900 shares during the period. National Pension Service grew its holdings in shares of Martin Marietta Materials by 1.0% during the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock worth $53,460,000 after acquiring an additional 843 shares during the period. HB Wealth Management LLC raised its position in shares of Martin Marietta Materials by 78.5% in the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock worth $5,048,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $1,605,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MLM. Loop Capital cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price on the stock. in a report on Wednesday, January 28th. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday. Finally, Stephens reduced their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $695.63.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $677.00 on Monday. 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 company has a market capitalization of $40.83 billion, a P/E ratio of 36.01, a P/E/G ratio of 2.60 and a beta of 1.13. The firm’s 50 day simple moving average is $656.95 and its two-hundred day simple moving average is $631.76. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.79 EPS. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is 17.66%.

Martin Marietta Materials 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.