Corient Private Wealth LLC Sells 26,626 Shares of Martin Marietta Materials, Inc. $MLM

Corient Private Wealth LLC lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 36.1% during the 4th quarter, Holdings Channel reports. The firm owned 47,080 shares of the construction company’s stock after selling 26,626 shares during the quarter. Corient Private Wealth LLC’s holdings in Martin Marietta Materials were worth $29,451,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Optima Capital LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $31,000. Reflection Asset Management bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $35,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Martin Marietta Materials during the 4th quarter valued at $36,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

MLM has been the subject of several research analyst reports. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Jefferies Financial Group restated a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price for the company in a research note on Thursday, April 2nd. Truist Financial lifted their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $610.87 on Tuesday. 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 firm has a market cap of $36.68 billion, a P/E ratio of 14.56, a P/E/G ratio of 2.58 and a beta of 1.10. The firm has a 50 day simple moving average of $588.96 and a 200 day simple moving average of $618.27. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share 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 firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Martin Marietta Materials’s revenue was up 17.2% on a year-over-year basis. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given 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 dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 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.