Steginsky Capital LLC Decreases Holdings in Martin Marietta Materials, Inc. $MLM

Steginsky Capital LLC lowered its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,021 shares of the construction company’s stock after selling 3,528 shares during the period. Martin Marietta Materials makes up 10.6% of Steginsky Capital LLC’s investment portfolio, making the stock its 5th largest position. Steginsky Capital LLC’s holdings in Martin Marietta Materials were worth $64,784,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Martin Marietta Materials during the second quarter worth about $2,706,134,000. Victory Capital Management Inc. lifted its position in Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after purchasing an additional 836,120 shares during the last quarter. Bank of America Corp DE lifted its position in Martin Marietta Materials by 0.9% during the first quarter. Bank of America Corp DE now owns 2,399,779 shares of the construction company’s stock valued at $1,412,702,000 after purchasing an additional 21,310 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Martin Marietta Materials by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 546,170 shares of the construction company’s stock worth $321,442,000 after buying an additional 5,764 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Martin Marietta Materials by 13.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 386,046 shares of the construction company’s stock worth $222,633,000 after buying an additional 46,228 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 2.1%

Shares of MLM traded down $10.23 during mid-day trading on Wednesday, reaching $478.78. The company’s stock had a trading volume of 249,505 shares, compared to its average volume of 591,229. The stock has a market cap of $28.76 billion, a PE ratio of 11.77, a P/E/G ratio of 2.31 and a beta of 1.08. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 52 week low of $470.19 and a 52 week high of $710.97. The company’s fifty day moving average price is $517.69 and its two-hundred day moving average price is $562.33.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $5.43 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 17.77 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.84 per share. The ex-dividend date was Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 0.7%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.26%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MLM shares. UBS Group lowered their price objective on shares of Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Truist Financial reduced their target price on Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating on the stock in a research note on Monday. Stephens lowered their price target on Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company cut their price objective on Martin Marietta Materials from $585.00 to $579.00 and set an “overweight” rating for the company in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $654.88.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.