Martin Marietta Materials, Inc. $MLM is Lathrop Investment Management Co.’s 4th Largest Position

Lathrop Investment Management Co. cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,247 shares of the construction company’s stock after selling 1,016 shares during the period. Martin Marietta Materials makes up about 3.6% of Lathrop Investment Management Co.’s portfolio, making the stock its 4th biggest holding. Lathrop Investment Management Co.’s holdings in Martin Marietta Materials were worth $19,694,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the period. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after buying an additional 10,445 shares during the period. State Street Corp lifted its position in Martin Marietta Materials by 2.0% in the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock worth $1,550,990,000 after buying an additional 56,353 shares during the last quarter. Bank of America Corp DE boosted its stake in Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Martin Marietta Materials by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after purchasing an additional 192,637 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

MLM has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday. Citigroup boosted their target price on shares of Martin Marietta Materials from $758.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, February 13th. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Truist Financial set a $710.00 price target on Martin Marietta Materials in a research report on Thursday, February 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $706.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Hold” and a consensus target price of $695.63.

Martin Marietta Materials Price Performance

MLM stock opened at $677.00 on Monday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. The firm has a market capitalization of $40.83 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 2.60 and a beta of 1.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The business has a 50 day simple moving average of $656.95 and a 200-day simple moving average of $631.76.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.79 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.66%.

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.