KBC Group NV Sells 1,597 Shares of Martin Marietta Materials, Inc. $MLM

KBC Group NV cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 21.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,947 shares of the construction company’s stock after selling 1,597 shares during the period. KBC Group NV’s holdings in Martin Marietta Materials were worth $3,501,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after acquiring an additional 836,120 shares during the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth $354,681,000. Bank of America Corp DE lifted its holdings in shares of Martin Marietta Materials by 31.9% during the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Martin Marietta Materials by 241.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock worth $188,686,000 after purchasing an additional 214,270 shares during the last quarter. Finally, Interval Partners LP bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $128,996,000. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MLM. Weiss Ratings raised Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Barclays reduced their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Wall Street Zen raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company raised their price objective on Martin Marietta Materials from $614.00 to $616.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Trading Up 2.5%

MLM opened at $560.71 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $575.98 and a 200-day moving average of $610.19. The stock has a market cap of $33.67 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.36 billion during 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%. Martin Marietta Materials’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a $0.83 dividend. The ex-dividend date of this dividend was 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 7.91%.

Martin Marietta Materials Company 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.