Border to Coast Pensions Partnership Ltd Sells 25,003 Shares of Martin Marietta Materials, Inc. $MLM

Border to Coast Pensions Partnership Ltd decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 31.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,584 shares of the construction company’s stock after selling 25,003 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Martin Marietta Materials were worth $32,821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Lido Advisors LLC lifted its stake in shares of Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after buying an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Martin Marietta Materials by 3.9% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock valued at $264,000 after buying an additional 16 shares in the last quarter. Harbour Investments Inc. raised its holdings in Martin Marietta Materials by 31.4% during the 4th quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock valued at $42,000 after acquiring an additional 16 shares during the period. Quadrant Capital Group LLC raised its holdings in Martin Marietta Materials by 0.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after acquiring an additional 17 shares during the period. Finally, 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 worth $437,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MLM. Morgan Stanley cut their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Truist Financial boosted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Barclays dropped their price objective 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. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Finally, Raymond James Financial set a $690.00 target price on Martin Marietta Materials in a report on Monday, April 27th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $681.94.

Martin Marietta Materials Trading Down 2.0%

Shares of MLM opened at $616.07 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The company has a market capitalization of $36.99 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $587.99 and its 200 day simple moving average is $618.20.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a $0.83 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is 7.91%.

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.