Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,361 shares of the construction company’s stock after selling 1,166 shares during the period. Martin Marietta Materials comprises 0.9% of Amica Mutual Insurance Co.’s portfolio, making the stock its 28th largest holding. Amica Mutual Insurance Co.’s holdings in Martin Marietta Materials were worth $8,864,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after acquiring an additional 11,749 shares during the period. TFG Advisers LLC increased its holdings in shares of Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of Martin Marietta Materials by 2.0% in the second quarter. Catalyst Capital Advisors LLC now owns 6,000 shares of the construction company’s stock valued at $3,251,000 after purchasing an additional 115 shares during the period. Clear Creek Financial Management LLC boosted its holdings in Martin Marietta Materials by 5.3% during the second quarter. Clear Creek Financial Management LLC now owns 1,169 shares of the construction company’s stock worth $634,000 after buying an additional 59 shares in the last quarter. Finally, First National Bank of Hutchinson grew its position in Martin Marietta Materials by 3.3% during the second quarter. First National Bank of Hutchinson now owns 1,075 shares of the construction company’s stock worth $582,000 after buying an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MLM shares. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday. Loop Capital cut their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Finally, Stephens cut their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $629.82.

Martin Marietta Materials Trading Down 2.4 %

NYSE MLM traded down $13.48 during mid-day trading on Monday, reaching $543.44. 442,120 shares of the stock were exchanged, compared to its average volume of 442,529. The stock has a market capitalization of $33.50 billion, a PE ratio of 16.16, a PEG ratio of 3.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The business’s fifty day simple moving average is $548.75 and its 200 day simple moving average is $571.14.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $5.60 EPS. Martin Marietta Materials’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

About Martin Marietta Materials

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.