Natixis Has $260,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Natixis trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 88.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423 shares of the construction company’s stock after selling 3,117 shares during the quarter. Natixis’ holdings in Martin Marietta Materials were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MLM. GQG Partners LLC grew its holdings in Martin Marietta Materials by 2.1% during the 1st quarter. GQG Partners LLC now owns 196,186 shares of the construction company’s stock worth $120,446,000 after acquiring an additional 3,999 shares during the last quarter. Pitcairn Co. grew its holdings in Martin Marietta Materials by 5.0% during the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock worth $271,000 after acquiring an additional 21 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Martin Marietta Materials by 2.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 31,070 shares of the construction company’s stock worth $19,072,000 after acquiring an additional 734 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $276,000. Finally, Bessemer Group Inc. grew its holdings in Martin Marietta Materials by 7.3% during the 1st quarter. Bessemer Group Inc. now owns 4,670 shares of the construction company’s stock worth $2,868,000 after acquiring an additional 319 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Stifel Nicolaus cut their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. The Goldman Sachs Group increased their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Citigroup cut their target price on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy 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 $617.33.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $565.62 on Friday. The firm has a 50-day moving average of $555.38 and a 200-day moving average of $564.15. The company has a market cap of $34.86 billion, a P/E ratio of 16.76, a P/E/G ratio of 2.91 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.52%. Martin Marietta Materials’s payout ratio is currently 8.77%.

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.