Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,774 shares of the construction company’s stock after selling 329 shares during the period. Mutual of America Capital Management LLC’s holdings in Martin Marietta Materials were worth $4,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gilbert & Cook Inc. raised its position in Martin Marietta Materials by 3.1% during the fourth quarter. Gilbert & Cook Inc. now owns 1,436 shares of the construction company’s stock worth $716,000 after acquiring an additional 43 shares during the last quarter. 9258 Wealth Management LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth about $203,000. Cambridge Investment Research Advisors Inc. raised its position in Martin Marietta Materials by 25.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock worth $4,272,000 after acquiring an additional 1,728 shares during the last quarter. US Bancorp DE raised its position in Martin Marietta Materials by 0.8% during the fourth quarter. US Bancorp DE now owns 10,021 shares of the construction company’s stock worth $5,000,000 after acquiring an additional 84 shares during the last quarter. Finally, Commerce Bank raised its position in Martin Marietta Materials by 2.6% during the fourth quarter. Commerce Bank now owns 2,840 shares of the construction company’s stock worth $1,417,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $546.29 on Monday. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The firm has a 50 day moving average price of $540.85 and a 200 day moving average price of $566.68. The company has a market cap of $33.67 billion, a price-to-earnings ratio of 16.19, a PEG 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.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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 return on equity of 13.85% and a net margin of 30.80%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the firm earned $5.60 earnings per share. Martin Marietta Materials’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is currently 9.36%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut 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 report on Wednesday, July 3rd. Truist Financial cut their target price on shares of 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. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Citigroup cut their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $629.82.

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.