Martin Marietta Materials, Inc. $MLM Stake Lessened by Amundi

Amundi lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 93.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,764 shares of the construction company’s stock after selling 1,590,652 shares during the period. Amundi’s holdings in Martin Marietta Materials were worth $64,674,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Martin Marietta Materials by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock worth $1,622,254,000 after acquiring an additional 10,445 shares during the period. Geode Capital Management LLC lifted its position in shares of Martin Marietta Materials by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock worth $831,331,000 after purchasing an additional 4,666 shares in the last quarter. Northern Trust Corp lifted its position in shares of Martin Marietta Materials by 2.5% in the first quarter. Northern Trust Corp now owns 633,472 shares of the construction company’s stock worth $302,882,000 after purchasing an additional 15,678 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Martin Marietta Materials by 0.4% during the second quarter. Franklin Resources Inc. now owns 527,968 shares of the construction company’s stock worth $289,833,000 after purchasing an additional 2,285 shares during the period. Finally, Norges Bank purchased a new position in Martin Marietta Materials during the second quarter valued at approximately $233,811,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MLM. Barclays increased their target price on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Wells Fargo & Company reduced their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Raymond James Financial upped their target price on Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $647.81.

Martin Marietta Materials Trading Down 0.4%

Martin Marietta Materials stock opened at $622.00 on Tuesday. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $665.18. The company’s fifty day moving average price is $619.38 and its two-hundred day moving average price is $594.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 32.79 and a beta of 1.16.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.50%.

About Martin Marietta Materials

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.