PNC Financial Services Group Inc. Trims Stock Holdings in Martin Marietta Materials, Inc. $MLM

PNC Financial Services Group Inc. decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 38,960 shares of the construction company’s stock after selling 2,472 shares during the period. PNC Financial Services Group Inc.’s holdings in Martin Marietta Materials were worth $24,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Larson Financial Group LLC increased its position in Martin Marietta Materials by 3.8% in the fourth quarter. Larson Financial Group LLC now owns 522 shares of the construction company’s stock worth $325,000 after buying an additional 19 shares in the last quarter. ProShare Advisors LLC increased its position in Martin Marietta Materials by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 12,502 shares of the construction company’s stock worth $7,784,000 after buying an additional 716 shares in the last quarter. HighTower Advisors LLC increased its position in Martin Marietta Materials by 1.0% in the fourth quarter. HighTower Advisors LLC now owns 59,965 shares of the construction company’s stock worth $37,338,000 after buying an additional 574 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Martin Marietta Materials by 3.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,241 shares of the construction company’s stock worth $2,641,000 after buying an additional 148 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in Martin Marietta Materials by 2.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,069 shares of the construction company’s stock worth $666,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $537.00 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The stock has a 50-day moving average price of $592.46 and a 200 day moving average price of $622.80. The stock has a market capitalization of $32.25 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.95 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the business posted $1.90 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.32 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MLM. Morgan Stanley reduced their price target on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Raymond James Financial set a $690.00 price target on Martin Marietta Materials in a research report on Monday, April 27th. Barclays reduced their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Loop Capital cut Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target for the company. in a research report on Wednesday, January 28th. Finally, Citigroup reduced their price target on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $689.81.

Martin Marietta Materials Profile

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.