Heritage Investors Management Corp Sells 1,538 Shares of Martin Marietta Materials, Inc. $MLM

Heritage Investors Management Corp lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,239 shares of the construction company’s stock after selling 1,538 shares during the period. Martin Marietta Materials accounts for approximately 1.1% of Heritage Investors Management Corp’s portfolio, making the stock its 26th largest holding. Heritage Investors Management Corp owned approximately 0.10% of Martin Marietta Materials worth $36,639,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MLM. Victory Capital Management Inc. increased its stake in Martin Marietta Materials by 51.8% in 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 during the last quarter. Norges Bank bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $354,681,000. Bank of America Corp DE boosted its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after acquiring an additional 565,856 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Martin Marietta Materials by 241.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after acquiring an additional 214,270 shares during the last quarter. Finally, Interval Partners LP purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth about $128,996,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MLM shares. Morgan Stanley decreased their price objective on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. 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. Weiss Ratings raised shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a report on Sunday, May 10th. Finally, Barclays lowered their price objective on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Price Performance

MLM opened at $599.97 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 stock has a market capitalization of $36.03 billion, a P/E ratio of 14.30, a PEG ratio of 2.46 and a beta of 1.10. The stock has a 50-day moving average price of $585.20 and a 200-day moving average price of $617.03. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.Martin Marietta Materials’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm posted $1.90 EPS. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) 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.