Aristotle Capital Management LLC Sells 121,412 Shares of Martin Marietta Materials, Inc. $MLM

Aristotle Capital Management LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,154,127 shares of the construction company’s stock after selling 121,412 shares during the quarter. Martin Marietta Materials comprises about 2.6% of Aristotle Capital Management LLC’s portfolio, making the stock its 7th largest position. Aristotle Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,357,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Martin Marietta Materials in the second quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the third quarter valued at approximately $32,000. Grey Fox Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the third quarter valued at approximately $33,000. Finally, Clearstead Trust LLC raised its position in Martin Marietta Materials by 93.8% during the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after purchasing an additional 30 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $584.08 on Friday. The company’s 50 day moving average price is $654.23 and its two-hundred day moving average price is $632.62. The firm has a market capitalization of $35.23 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.30 and a beta of 1.13. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company posted $4.79 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a $0.83 dividend. 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, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. B. Riley Financial started coverage on Martin Marietta Materials in a report on Thursday, January 15th. They issued a “neutral” rating and a $700.00 target price on the stock. Truist Financial set a $710.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Stephens lowered their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Jefferies Financial Group restated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Finally, Citigroup raised their price objective on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Hold” and a consensus target price of $696.88.

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.