Rathbones Group PLC Sells 3,875 Shares of Martin Marietta Materials, Inc. $MLM

Rathbones Group PLC reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 198,201 shares of the construction company’s stock after selling 3,875 shares during the period. Rathbones Group PLC’s holdings in Martin Marietta Materials were worth $123,412,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of Martin Marietta Materials by 3.9% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after purchasing an additional 16 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Martin Marietta Materials by 2.9% during the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock valued at $407,000 after purchasing an additional 18 shares in the last quarter. Fiduciary Alliance LLC lifted its position in shares of Martin Marietta Materials by 2.6% during the fourth quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company’s stock valued at $437,000 after purchasing an additional 18 shares in the last quarter. Vise Technologies Inc. lifted its position in shares of Martin Marietta Materials by 2.5% during the third quarter. Vise Technologies Inc. now owns 731 shares of the construction company’s stock valued at $461,000 after purchasing an additional 18 shares in the last quarter. Finally, Snowden Capital Advisors LLC lifted its position in shares of Martin Marietta Materials by 1.9% during the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock valued at $533,000 after purchasing an additional 18 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $541.32 on Thursday. The firm has a market cap of $32.51 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The firm’s 50-day simple moving average is $595.04 and its two-hundred day simple moving average is $623.93.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm 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 of this dividend is Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is 7.91%.

Analysts Set New Price Targets

Several analysts have commented on MLM shares. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Raymond James Financial set a $690.00 price objective on shares of Martin Marietta Materials in a research report on Monday, April 27th. Royal Bank Of Canada lowered their price objective 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. Finally, Stephens lowered their price objective on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $689.81.

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.