Martin Marietta Materials, Inc. $MLM Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,786 shares of the construction company’s stock after selling 17,451 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Martin Marietta Materials were worth $54,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp boosted its holdings 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 buying an additional 2,912 shares in the last quarter. National Pension Service raised its stake 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 acquiring an additional 843 shares in the last quarter. HB Wealth Management LLC raised its stake in Martin Marietta Materials by 78.5% during the 3rd quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock worth $5,048,000 after acquiring an additional 3,522 shares in the last quarter. Caprock Group LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at $1,605,000. Finally, Fenimore Asset Management Inc lifted its position in Martin Marietta Materials by 0.9% in the third quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company’s stock valued at $56,509,000 after acquiring an additional 807 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on MLM. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective on the stock. in a report on Wednesday, January 28th. Wells Fargo & Company reduced their target price on Martin Marietta Materials from $612.00 to $608.00 and set an “equal weight” rating for the company in a report on Wednesday, April 15th. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Truist Financial set a $710.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Finally, Barclays cut their price target on 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. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $692.69.

Martin Marietta Materials Trading Up 0.8%

Shares of Martin Marietta Materials stock opened at $614.44 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The company has a market capitalization of $37.03 billion, a P/E ratio of 32.68, a PEG ratio of 2.24 and a beta of 1.19. Martin Marietta Materials, Inc. has a 1 year low of $490.31 and a 1 year high of $710.97. The company’s fifty day moving average is $617.40 and its two-hundred day moving average is $628.26.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company posted $4.79 earnings per share. Martin Marietta Materials’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast that Martin Marietta Materials, Inc. will post 19.51 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is currently 17.66%.

About Martin Marietta Materials

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.