Massachusetts Financial Services Co. MA Sells 3,951 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Massachusetts Financial Services Co. MA decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 609,139 shares of the construction company’s stock after selling 3,951 shares during the period. Massachusetts Financial Services Co. MA owned about 0.99% of Martin Marietta Materials worth $330,032,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $308,705,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of 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 valued at $138,289,000 after purchasing an additional 270,802 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Martin Marietta Materials by 306.8% during 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, Vanguard Group Inc. grew its holdings in shares of Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MLM shares. Truist Financial reduced their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup dropped their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Stifel Nicolaus dropped their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Jefferies Financial Group increased their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $629.82.

Martin Marietta Materials Trading Up 1.7 %

NYSE:MLM opened at $529.78 on Tuesday. The company has a 50-day moving average price of $541.32 and a 200-day moving average price of $568.37. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The stock has a market cap of $32.66 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 3.52 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $5.60 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Martin Marietta Materials Profile

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.