Mitsubishi UFJ Trust & Banking Corp Sells 17,715 Shares of Martin Marietta Materials, Inc. $MLM

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 105,237 shares of the construction company’s stock after selling 17,715 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Martin Marietta Materials were worth $66,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its position in Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after purchasing an additional 144 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after purchasing an additional 51 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 16.5% in the second quarter. Farther Finance Advisors LLC now owns 493 shares of the construction company’s stock worth $270,000 after buying an additional 70 shares during the last quarter. Finally, Mather Group LLC. grew its position in Martin Marietta Materials by 49.3% during the second quarter. Mather Group LLC. now owns 415 shares of the construction company’s stock valued at $228,000 after buying an additional 137 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MLM has been the topic of several recent research reports. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $660.00 to $690.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Stifel Nicolaus raised their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. boosted their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Wells Fargo & Company reduced their price target on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Thursday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $670.63.

Martin Marietta Materials Trading Down 0.4%

Shares of Martin Marietta Materials stock opened at $649.36 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $668.83. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97. The company has a market capitalization of $39.16 billion, a P/E ratio of 34.23 and a beta of 1.15. The company has a fifty day moving average of $629.55 and a 200 day moving average of $615.47.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 17.50%.

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.