Sumitomo Mitsui Trust Group Inc. Decreases Position in Martin Marietta Materials, Inc. $MLM

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,880 shares of the construction company’s stock after selling 6,816 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Martin Marietta Materials were worth $75,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLM. Optima Capital LLC acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials in the third quarter worth about $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth about $31,000. Reflection Asset Management purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $35,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $36,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLM. B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective for the company in a research report on Thursday, April 2nd. Royal Bank Of Canada dropped their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Finally, Truist Financial boosted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $682.41.

Martin Marietta Materials Stock Performance

MLM traded up $6.10 during trading on Friday, reaching $578.00. 450,995 shares of the company’s stock were exchanged, compared to its average volume of 628,951. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The company’s fifty day simple moving average is $581.94 and its 200-day simple moving average is $615.35. The stock has a market capitalization of $34.71 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

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

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Martin Marietta Materials 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.