PNC Financial Services Group Inc. Sells 2,472 Shares of Martin Marietta Materials, Inc. $MLM

PNC Financial Services Group Inc. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,960 shares of the construction company’s stock after selling 2,472 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Martin Marietta Materials worth $24,259,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MLM. Atlantic Union Bankshares Corp lifted its holdings in shares of Martin Marietta Materials by 321.8% during the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock valued at $2,406,000 after purchasing an additional 2,912 shares in the last quarter. National Pension Service lifted its holdings in shares of Martin Marietta Materials by 1.0% during the third quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after purchasing an additional 843 shares in the last quarter. Caprock Group LLC bought a new position in shares of Martin Marietta Materials during the third quarter valued at $1,605,000. Pelham Capital Ltd. lifted its holdings in shares of Martin Marietta Materials by 57.1% during the third quarter. Pelham Capital Ltd. now owns 30,052 shares of the construction company’s stock valued at $18,941,000 after purchasing an additional 10,917 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Martin Marietta Materials by 4.8% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 80,587 shares of the construction company’s stock valued at $50,792,000 after purchasing an additional 3,721 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.2%

MLM stock opened at $537.00 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The business’s 50-day moving average is $592.46 and its two-hundred day moving average is $622.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a market cap of $32.25 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.95 and a beta of 1.13.

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

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MLM. Raymond James Financial set a $690.00 price target on Martin Marietta Materials in a report on Monday, April 27th. Truist Financial upped their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Barclays lowered their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. UBS Group set a $739.00 price target on Martin Marietta Materials in a report on Sunday, May 10th. Finally, Stephens lowered their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target 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.