Amalgamated Bank Decreases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Amalgamated Bank lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,050 shares of the construction company’s stock after selling 575 shares during the quarter. Amalgamated Bank’s holdings in Martin Marietta Materials were worth $6,224,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials in the third quarter valued at about $33,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials in the 4th quarter valued at about $35,000. R Squared Ltd acquired a new stake in Martin Marietta Materials in the 4th quarter worth about $41,000. Retirement Wealth Solutions LLC purchased a new stake in Martin Marietta Materials during the 4th quarter worth approximately $41,000. Finally, Larson Financial Group LLC acquired a new position in shares of Martin Marietta Materials during the third quarter valued at approximately $49,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $491.15 on Thursday. Martin Marietta Materials, Inc. has a 52 week low of $482.72 and a 52 week high of $633.23. The stock’s fifty day moving average is $527.89 and its two-hundred day moving average is $546.49. The company has a market capitalization of $30.02 billion, a P/E ratio of 15.19, a P/E/G ratio of 4.45 and a beta of 0.91. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MLM shares. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Barclays lowered their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Raymond James cut their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Truist Financial lowered their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Company 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.