Gulf International Bank UK Ltd Sells 212 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Gulf International Bank UK Ltd trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,901 shares of the construction company’s stock after selling 212 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Martin Marietta Materials were worth $2,637,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Hazlett Burt & Watson Inc. increased its position in Martin Marietta Materials by 10.6% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,200 shares of the construction company’s stock worth $646,000 after acquiring an additional 115 shares during the period. QRG Capital Management Inc. grew its stake in Martin Marietta Materials by 8.2% during the third quarter. QRG Capital Management Inc. now owns 1,734 shares of the construction company’s stock worth $933,000 after buying an additional 132 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Martin Marietta Materials by 1.0% during the third quarter. Asset Management One Co. Ltd. now owns 22,775 shares of the construction company’s stock worth $12,259,000 after buying an additional 222 shares in the last quarter. National Pension Service grew its stake in Martin Marietta Materials by 0.7% during the third quarter. National Pension Service now owns 74,515 shares of the construction company’s stock worth $40,108,000 after buying an additional 523 shares in the last quarter. Finally, Intact Investment Management Inc. grew its stake in Martin Marietta Materials by 9.9% during the third quarter. Intact Investment Management Inc. now owns 8,900 shares of the construction company’s stock worth $4,790,000 after buying an additional 800 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MLM has been the topic of a number of analyst reports. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Citigroup reduced their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $626.92.

Martin Marietta Materials Trading Up 6.0 %

MLM opened at $617.31 on Thursday. The company’s 50 day moving average is $545.48 and its 200-day moving average is $556.16. Martin Marietta Materials, Inc. has a 1-year low of $439.36 and a 1-year high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market cap of $37.73 billion, a P/E ratio of 19.24, a PEG ratio of 3.86 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.94 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

Martin Marietta Materials Company 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.