Clearbridge Investments LLC Has $152.02 Million Stake in Martin Marietta Materials, Inc. $MLM

Clearbridge Investments LLC decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,152 shares of the construction company’s stock after selling 8,718 shares during the period. Clearbridge Investments LLC owned about 0.40% of Martin Marietta Materials worth $152,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Martin Marietta Materials by 1.3% during 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 acquiring an additional 93,595 shares in the last quarter. Bank of America Corp DE grew its holdings in Martin Marietta Materials by 1.1% during 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 grew its holdings in 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 purchasing an additional 10,743 shares during the last quarter. King Luther Capital Management Corp grew its holdings in 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 purchasing an additional 5,025 shares during the last quarter. Finally, Norges Bank acquired a new position in 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 Stock Up 0.2%

Shares of NYSE MLM opened at $576.76 on Monday. The stock has a market cap of $34.63 billion, a PE ratio of 13.75, a PEG ratio of 2.44 and a beta of 1.10. The business has a fifty day moving average of $591.32 and a two-hundred day moving average of $620.21. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $1.90 earnings per share. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on MLM shares. DA Davidson set a $680.00 price target on Martin Marietta Materials in a report on Thursday, February 12th. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Stephens lowered their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a report on Thursday, April 2nd. Finally, Wells Fargo & Company increased their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $681.94.

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.