Diamond Hill Capital Management Inc. Sells 135,409 Shares of Martin Marietta Materials, Inc. $MLM

Diamond Hill Capital Management Inc. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 446,526 shares of the construction company’s stock after selling 135,409 shares during the period. Martin Marietta Materials makes up about 1.4% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 24th biggest position. Diamond Hill Capital Management Inc.’s holdings in Martin Marietta Materials were worth $278,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MLM. Atlantic Union Bankshares Corp boosted its stake in shares of Martin Marietta Materials by 321.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock valued at $2,406,000 after purchasing an additional 2,912 shares in the last quarter. National Pension Service increased its position in Martin Marietta Materials by 1.0% during the 3rd quarter. National Pension Service now owns 84,820 shares of the construction company’s stock worth $53,460,000 after purchasing an additional 843 shares in the last quarter. Caprock Group LLC bought a new position in Martin Marietta Materials in the 3rd quarter valued at approximately $1,605,000. Pelham Capital Ltd. lifted its stake in Martin Marietta Materials by 57.1% in the 3rd quarter. Pelham Capital Ltd. now owns 30,052 shares of the construction company’s stock valued at $18,941,000 after purchasing an additional 10,917 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd boosted its position in Martin Marietta Materials by 4.8% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 80,587 shares of the construction company’s stock valued at $50,792,000 after buying an additional 3,721 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Morgan Stanley cut their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Loop Capital cut Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a report on Wednesday, January 28th. Barclays dropped their target price on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Finally, Citigroup reduced their price target on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $689.81.

Martin Marietta Materials Trading Down 0.5%

Shares of MLM stock opened at $539.16 on Friday. The stock has a market cap of $32.38 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.96 and a beta of 1.13. The stock has a 50-day moving average of $593.67 and a 200-day moving average of $623.40. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year 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 EPS for the quarter, topping 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a $0.83 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. 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.