Diversified Trust Co Has $4.04 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Diversified Trust Co lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,582 shares of the construction company’s stock after selling 926 shares during the period. Diversified Trust Co’s holdings in Martin Marietta Materials were worth $4,041,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials in the 4th quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new position in Martin Marietta Materials during the fourth quarter worth $26,000. Riverview Trust Co acquired a new position in shares of Martin Marietta Materials in the first quarter valued at $26,000. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at about $27,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MLM. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 price objective (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. The Goldman Sachs Group boosted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial lifted their price objective on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $610.27.

Martin Marietta Materials Trading Down 2.0 %

NYSE MLM traded down $10.71 during trading hours on Monday, reaching $531.09. The company’s stock had a trading volume of 117,855 shares, compared to its average volume of 419,622. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The stock has a market cap of $32.74 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.40 and a beta of 0.91. The firm has a fifty day simple moving average of $574.19 and a 200-day simple moving average of $557.20.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 earnings per share. Equities analysts forecast that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.