Sei Investments Co. Trims Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Sei Investments Co. reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 149,027 shares of the construction company’s stock after selling 118 shares during the period. Sei Investments Co. owned 0.24% of Martin Marietta Materials worth $91,495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $7,783,000. Forsta AP Fonden raised its stake in Martin Marietta Materials by 48.6% during the 1st quarter. Forsta AP Fonden now owns 16,200 shares of the construction company’s stock valued at $9,946,000 after acquiring an additional 5,300 shares during the last quarter. SG Americas Securities LLC raised its stake in Martin Marietta Materials by 882.6% during the 1st quarter. SG Americas Securities LLC now owns 23,995 shares of the construction company’s stock valued at $14,731,000 after acquiring an additional 21,553 shares during the last quarter. Empowered Funds LLC grew its holdings in Martin Marietta Materials by 986.1% during the 1st quarter. Empowered Funds LLC now owns 7,842 shares of the construction company’s stock valued at $4,815,000 after buying an additional 7,120 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Martin Marietta Materials by 25.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,637 shares of the construction company’s stock valued at $3,461,000 after buying an additional 1,147 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Loop Capital cut their target price on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. The Goldman Sachs Group lifted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Truist Financial boosted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $613.00.

Martin Marietta Materials Price Performance

NYSE:MLM traded up $2.05 during mid-day trading on Monday, hitting $556.57. The company’s stock had a trading volume of 368,497 shares, compared to its average volume of 430,131. The company has a market capitalization of $34.31 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 2.46 and a beta of 0.91. The stock has a fifty day moving average of $563.23 and a 200-day moving average of $560.36. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.16 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 23.03 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.74 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 8.77%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.