Numerai GP LLC Sells 1,281 Shares of Martin Marietta Materials, Inc. $MLM

Numerai GP LLC cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 25.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,792 shares of the construction company’s stock after selling 1,281 shares during the quarter. Numerai GP LLC’s holdings in Martin Marietta Materials were worth $2,390,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Martin Marietta Materials by 1.3% during the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Martin Marietta Materials by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after buying an additional 10,445 shares in the last quarter. State Street Corp raised its position in shares of Martin Marietta Materials by 2.0% during the 2nd quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after buying an additional 56,353 shares in the last quarter. Bank of America Corp DE raised its position in shares of Martin Marietta Materials by 1.1% during the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock valued at $1,491,136,000 after buying an additional 25,155 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after acquiring an additional 192,637 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLM. Zacks Research downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Stephens cut their target price on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Royal Bank Of Canada restated a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Citigroup raised their price target on Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Truist Financial set a $710.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $696.88.

Martin Marietta Materials Stock Up 0.3%

Shares of MLM opened at $585.44 on Tuesday. The firm has a fifty day moving average price of $653.10 and a 200-day moving average price of $632.54. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $35.31 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.30 and a beta of 1.13. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.79 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s payout ratio is currently 17.66%.

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.