Davis Investment Partners LLC Decreases Stake in Martin Marietta Materials, Inc. $MLM

Davis Investment Partners LLC reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 54.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 835 shares of the construction company’s stock after selling 1,000 shares during the quarter. Davis Investment Partners LLC’s holdings in Martin Marietta Materials were worth $530,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp increased its holdings 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 acquiring an additional 2,912 shares during the last quarter. Atika Capital Management LLC raised its stake 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 valued at $39,818,000 after purchasing an additional 16,900 shares during the period. National Pension Service grew its holdings in Martin Marietta Materials by 1.0% during the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after buying an additional 843 shares in the last quarter. HB Wealth Management LLC grew its holdings in Martin Marietta Materials by 78.5% during the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock valued at $5,048,000 after buying 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 about $1,605,000. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MLM. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $630.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Citigroup increased their price target on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Hold” and an average target price of $696.88.

Martin Marietta Materials Trading Down 0.1%

NYSE:MLM opened at $567.43 on Friday. The company has a 50-day moving average price of $649.29 and a 200-day moving average price of $631.41. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.24 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results 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). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $4.79 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 17.66%.

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.