Martin Marietta Materials, Inc. $MLM Shares Acquired by Whittier Trust Co.

Whittier Trust Co. boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,748 shares of the construction company’s stock after purchasing an additional 1,680 shares during the quarter. Whittier Trust Co.’s holdings in Martin Marietta Materials were worth $13,016,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC lifted its position in Martin Marietta Materials by 0.8% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 232,234 shares of the construction company’s stock worth $146,372,000 after acquiring an additional 1,939 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Martin Marietta Materials by 141.3% in the third quarter. BNP Paribas Financial Markets now owns 117,872 shares of the construction company’s stock valued at $74,292,000 after purchasing an additional 69,016 shares during the period. Gradient Investments LLC raised its stake in shares of Martin Marietta Materials by 9.7% during the fourth quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock worth $27,527,000 after purchasing an additional 3,903 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock worth $48,438,000 after purchasing an additional 77,253 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Martin Marietta Materials by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock valued at $259,344,000 after buying an additional 5,038 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Oppenheimer started coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating on the stock. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 25th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Barclays reduced their price objective on shares of 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. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $681.94.

Martin Marietta Materials Price Performance

MLM stock opened at $599.97 on Monday. The firm has a 50 day moving average of $584.98 and a 200-day moving average of $616.79. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The company has a market cap of $36.03 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 2.55 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last released its quarterly 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. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. The company’s revenue was up 17.2% compared to the same quarter last year. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is 7.91%.

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.