Legal & General Group Plc Sells 3,658 Shares of Martin Marietta Materials, Inc. $MLM

Legal & General Group Plc trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.3% in the fourth quarter, HoldingsChannel reports. The fund owned 271,303 shares of the construction company’s stock after selling 3,658 shares during the period. Legal & General Group Plc’s holdings in Martin Marietta Materials were worth $168,930,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Atlantic Union Bankshares Corp increased its stake in shares of Martin Marietta Materials by 321.8% in the third quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after buying an additional 2,912 shares during the period. National Pension Service increased its stake in shares of Martin Marietta Materials by 1.0% in the third quarter. National Pension Service now owns 84,820 shares of the construction company’s stock worth $53,460,000 after buying an additional 843 shares during the period. Caprock Group LLC purchased a new position in shares of Martin Marietta Materials in the third quarter worth $1,605,000. Pelham Capital Ltd. increased its stake in shares of Martin Marietta Materials by 57.1% in the third quarter. Pelham Capital Ltd. now owns 30,052 shares of the construction company’s stock worth $18,941,000 after buying an additional 10,917 shares during the period. Finally, Border to Coast Pensions Partnership Ltd increased its stake in shares of Martin Marietta Materials by 4.8% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 80,587 shares of the construction company’s stock worth $50,792,000 after buying an additional 3,721 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Up 2.6%

Shares of Martin Marietta Materials stock opened at $575.23 on Thursday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $590.81 and its two-hundred day simple moving average is $621.63. The company has a market cap of $34.54 billion, a P/E ratio of 13.71, a PEG ratio of 2.03 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.90 EPS. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.32 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials’s payout ratio is presently 7.91%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays decreased their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Oppenheimer assumed coverage on shares of Martin Marietta Materials in a research note on Thursday. They issued a “market perform” rating on the stock. Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a research note on Monday, April 27th. Loop Capital downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price on the stock. in a research note on Wednesday, January 28th. Finally, Citigroup decreased their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $689.81.

About Martin Marietta Materials

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.