Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,847 shares of the construction company’s stock after selling 136 shares during the period. Chartwell Investment Partners LLC’s holdings in Martin Marietta Materials were worth $4,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after purchasing an additional 523,038 shares during the period. Dimensional Fund Advisors LP raised its holdings in Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after purchasing an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after purchasing an additional 164,503 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.6 %

Shares of Martin Marietta Materials stock opened at $616.05 on Tuesday. The firm has a market capitalization of $37.65 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 4.14 and a beta of 0.90. Martin Marietta Materials, Inc. has a fifty-two week low of $451.37 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a 50 day moving average of $549.06 and a 200 day moving average of $556.31.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.94 earnings per share. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.51%. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of analyst reports. Barclays upped their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Truist Financial cut their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Loop Capital boosted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.85.

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.