Sumitomo Mitsui Trust Holdings Inc. Buys 682 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 148,571 shares of the construction company’s stock after acquiring an additional 682 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Martin Marietta Materials were worth $91,214,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth $308,705,000. Balyasny Asset Management L.P. raised its holdings in Martin Marietta Materials by 4,244.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after purchasing an additional 270,802 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after purchasing an additional 181,136 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Martin Marietta Materials by 306.8% in the 4th quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company’s stock valued at $80,668,000 after purchasing an additional 121,941 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Martin Marietta Materials by 96.6% in the 4th quarter. Jennison Associates LLC now owns 157,904 shares of the construction company’s stock valued at $78,780,000 after purchasing an additional 77,596 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MLM. JPMorgan Chase & Co. restated 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. StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, Stifel Nicolaus decreased their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $610.25.

Martin Marietta Materials Trading Down 0.3 %

Shares of NYSE:MLM opened at $533.32 on Friday. The firm has a market cap of $32.87 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.36 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company’s fifty day simple moving average is $569.49 and its 200 day simple moving average is $557.45. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.

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

Martin Marietta Materials Announces Dividend

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