Simmons Bank Has $1.51 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Simmons Bank cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,784 shares of the construction company’s stock after selling 545 shares during the period. Simmons Bank’s holdings in Martin Marietta Materials were worth $1,508,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Martin Marietta Materials by 49,790.8% in the fourth quarter. International Assets Investment Management LLC now owns 59,869 shares of the construction company’s stock worth $29,869,000 after purchasing an additional 59,749 shares in the last quarter. CWM LLC increased its holdings in shares of Martin Marietta Materials by 3.1% in the fourth quarter. CWM LLC now owns 1,524 shares of the construction company’s stock valued at $760,000 after purchasing an additional 46 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Martin Marietta Materials by 3.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,645 shares of the construction company’s stock worth $1,818,000 after purchasing an additional 119 shares during the last quarter. Truist Financial Corp boosted its position in Martin Marietta Materials by 9.0% in the 4th quarter. Truist Financial Corp now owns 98,514 shares of the construction company’s stock valued at $49,149,000 after buying an additional 8,119 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Martin Marietta Materials by 1.7% in the fourth quarter. Russell Investments Group Ltd. now owns 68,683 shares of the construction company’s stock valued at $34,251,000 after acquiring an additional 1,156 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stephens dropped 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 report on Friday, August 9th. Truist Financial lowered their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stifel Nicolaus dropped their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Loop Capital dropped their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Down 0.8 %

Shares of MLM traded down $4.34 during trading hours on Wednesday, hitting $514.23. The company had a trading volume of 528,380 shares, compared to its average volume of 445,040. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 3.12 and a beta of 0.91. The firm has a fifty day moving average price of $547.34 and a 200-day moving average price of $571.21. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. 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 (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.60 EPS. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.61%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s 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.