Sei Investments Co. Decreases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Sei Investments Co. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,450 shares of the construction company’s stock after selling 2,577 shares during the period. Sei Investments Co. owned about 0.24% of Martin Marietta Materials worth $79,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. boosted its stake in Martin Marietta Materials by 14.8% in the 2nd quarter. Pacer Advisors Inc. now owns 6,079 shares of the construction company’s stock worth $3,294,000 after purchasing an additional 783 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Martin Marietta Materials by 3.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 12,419 shares of the construction company’s stock worth $6,729,000 after purchasing an additional 400 shares during the period. Bridges Investment Management Inc. bought a new stake in Martin Marietta Materials during the 2nd quarter valued at $321,000. Canada Pension Plan Investment Board increased its holdings in shares of Martin Marietta Materials by 7.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 96,670 shares of the construction company’s stock valued at $52,376,000 after acquiring an additional 6,830 shares during the period. Finally, Ieq Capital LLC raised its position in shares of Martin Marietta Materials by 3.3% in the 2nd quarter. Ieq Capital LLC now owns 3,604 shares of the construction company’s stock worth $1,952,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

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

Martin Marietta Materials Stock Down 0.4 %

Shares of MLM stock opened at $546.29 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm has a market capitalization of $33.67 billion, a PE ratio of 16.19, a P/E/G ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The stock’s 50-day simple moving average is $540.85 and its 200-day simple moving average is $566.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.60 earnings per share. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.79 per share. The ex-dividend date is Tuesday, September 3rd. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s payout ratio is currently 9.36%.

Martin Marietta Materials 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.