Bank of New York Mellon Corp Sells 19,143 Shares of Martin Marietta Materials, Inc. $MLM

Bank of New York Mellon Corp decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,879 shares of the construction company’s stock after selling 19,143 shares during the quarter. Bank of New York Mellon Corp’s holdings in Martin Marietta Materials were worth $230,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. Bank of America Corp DE lifted its position in Martin Marietta Materials by 1.1% in the third quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock valued at $1,491,136,000 after purchasing an additional 25,155 shares during the last quarter. Geode Capital Management LLC lifted its position in Martin Marietta Materials by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after purchasing an additional 10,743 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Martin Marietta Materials by 0.7% during the fourth quarter. King Luther Capital Management Corp now owns 690,128 shares of the construction company’s stock valued at $429,715,000 after buying an additional 5,025 shares during the period. Finally, Norges Bank purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $354,681,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.7%

Martin Marietta Materials stock opened at $576.76 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $591.32 and its two-hundred day simple moving average is $620.00. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The company has a market capitalization of $34.63 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company posted $1.90 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MLM shares. Stephens reduced their target price on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company boosted their target price on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Berenberg Bank set a $556.00 target price on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Truist Financial boosted their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $681.94.

About Martin Marietta Materials

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.