Aberdeen Group plc Sells 3,673 Shares of Martin Marietta Materials, Inc. $MLM

Aberdeen Group plc reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,779 shares of the construction company’s stock after selling 3,673 shares during the quarter. Aberdeen Group plc’s holdings in Martin Marietta Materials were worth $16,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after acquiring an additional 49 shares during the period. Empowered Funds LLC boosted its position in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after acquiring an additional 51 shares during the period. Chicago Partners Investment Group LLC grew its stake in Martin Marietta Materials by 10.1% during the second quarter. Chicago Partners Investment Group LLC now owns 467 shares of the construction company’s stock valued at $269,000 after acquiring an additional 43 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in Martin Marietta Materials by 12.6% during the 2nd quarter. Whittier Trust Co. now owns 18,678 shares of the construction company’s stock worth $10,253,000 after acquiring an additional 2,085 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MLM. Truist Financial set a $710.00 price objective on Martin Marietta Materials in a research report on Thursday, February 12th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Wells Fargo & Company cut their price objective on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Zacks Research cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Finally, Citigroup lifted their target price on shares of Martin Marietta Materials from $758.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $690.69.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $662.29 on Thursday. The firm has a market capitalization of $39.94 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.50 and a beta of 1.16. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The business’s 50-day moving average price is $649.62 and its 200-day moving average price is $627.96.

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

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.