Heritage Investors Management Corp Decreases Stock Position in Martin Marietta Materials, Inc. $MLM

Heritage Investors Management Corp reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,326 shares of the construction company’s stock after selling 1,320 shares during the quarter. Martin Marietta Materials makes up 1.2% of Heritage Investors Management Corp’s investment portfolio, making the stock its 22nd largest position. Heritage Investors Management Corp’s holdings in Martin Marietta Materials were worth $40,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Atlantic Union Bankshares Corp lifted its holdings in shares of Martin Marietta Materials by 321.8% in the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock valued at $2,406,000 after purchasing an additional 2,912 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Martin Marietta Materials by 21.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,599 shares of the construction company’s stock worth $1,599,000 after purchasing an additional 462 shares during the last quarter. A4 Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $322,000. AXS Investments LLC purchased a new stake in Martin Marietta Materials in the 3rd quarter valued at approximately $51,000. Finally, Mediolanum International Funds Ltd grew its holdings in Martin Marietta Materials by 1.4% during the 3rd quarter. Mediolanum International Funds Ltd now owns 6,488 shares of the construction company’s stock valued at $4,031,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MLM shares. Wells Fargo & Company boosted their price target on Martin Marietta Materials from $610.00 to $631.00 and gave the stock an “equal weight” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. UBS Group raised their price target on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $676.63.

Martin Marietta Materials Stock Up 0.4%

Shares of NYSE:MLM opened at $654.61 on Tuesday. The stock’s 50-day moving average price is $635.99 and its two-hundred day moving average price is $619.83. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $668.83. The firm has a market cap of $39.48 billion, a price-to-earnings ratio of 34.51 and a beta of 1.15.

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

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 17.50%.

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.