Martin Marietta Materials, Inc. $MLM Holdings Decreased by Aristotle Capital Management LLC

Aristotle Capital Management LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.6% in the first quarter, Holdings Channel.com reports. The firm owned 1,955,100 shares of the construction company’s stock after selling 95,177 shares during the quarter. Martin Marietta Materials comprises 2.4% of Aristotle Capital Management LLC’s portfolio, making the stock its 7th largest holding. Aristotle Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,150,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after acquiring an additional 836,120 shares in the last quarter. Bank of America Corp DE raised its position in Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Martin Marietta Materials by 0.7% during 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 acquiring an additional 10,743 shares during the period. Morgan Stanley boosted its stake in shares of Martin Marietta Materials by 5.3% in the 4th quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock valued at $851,188,000 after purchasing an additional 68,382 shares in the last quarter. Finally, Invesco Ltd. raised its position in Martin Marietta Materials by 9.3% in the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock valued at $479,389,000 after purchasing an additional 65,623 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MLM. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. Truist Financial lifted their target price on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Citigroup raised their price target on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average target price of $681.53.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $560.71 on Friday. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The company has a market cap of $33.67 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 2.32 and a beta of 1.10. The firm has a 50 day simple moving average of $575.98 and a 200 day simple moving average of $610.19.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Research analysts predict that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

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.