Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Savant Capital LLC

Savant Capital LLC lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.7% during the second quarter, HoldingsChannel reports. The firm owned 3,718 shares of the construction company’s stock after selling 103 shares during the quarter. Savant Capital LLC’s holdings in Martin Marietta Materials were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after buying an additional 69,701 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 acquiring an additional 523,038 shares during the period. Norges Bank purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $308,705,000. Dimensional Fund Advisors LP increased its stake in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,396 shares of the construction company’s stock worth $307,026,000 after acquiring an additional 27,775 shares during the period. Finally, Bank of New York Mellon Corp raised 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 purchasing an additional 11,749 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MLM shares. Stephens lowered their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group lifted their price target on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. 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 report on Friday, August 9th. Citigroup decreased their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Loop Capital lowered their price target on shares of 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $506.21 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $543.58 and its 200 day moving average price is $570.24. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The stock has a market cap of $31.20 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 3.43 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results 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 net margin of 30.80% and a return on equity of 13.85%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the company earned $5.60 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 19.59 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is 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.