William Blair Investment Management LLC Sells 9,359 Shares of Martin Marietta Materials, Inc. $MLM

William Blair Investment Management LLC lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% during the third quarter, Holdings Channel reports. The firm owned 277,356 shares of the construction company’s stock after selling 9,359 shares during the period. William Blair Investment Management LLC’s holdings in Martin Marietta Materials were worth $174,812,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MLM. Atlantic Union Bankshares Corp grew its stake in Martin Marietta Materials by 321.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock valued at $2,406,000 after buying an additional 2,912 shares during the last quarter. Atika Capital Management LLC lifted its position in Martin Marietta Materials by 30.4% during the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock worth $39,818,000 after acquiring an additional 16,900 shares during the last quarter. National Pension Service boosted its holdings in 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 acquiring an additional 843 shares during the period. HB Wealth Management LLC grew its position in shares of Martin Marietta Materials by 78.5% in the third quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock valued at $5,048,000 after purchasing an additional 3,522 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at about $1,605,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 0.2%

Shares of MLM stock opened at $677.00 on Friday. The firm has a fifty day moving average of $656.95 and a 200-day moving average of $631.68. The stock has a market cap of $40.83 billion, a price-to-earnings ratio of 36.01, a P/E/G ratio of 2.60 and a beta of 1.16. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $710.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57.

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

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

Analysts Set New Price Targets

Several research firms recently weighed in on MLM. B. Riley Financial started coverage on Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 price objective for the company. Citigroup lifted their price target on Martin Marietta Materials from $758.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Truist Financial set a $710.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 12th. Finally, Zacks Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $695.63.

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.