Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,595 shares of the construction company’s stock after selling 2,715 shares during the quarter. Thrivent Financial for Lutherans owned 0.05% of Martin Marietta Materials worth $16,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MLM. Principal Financial Group Inc. boosted its holdings in shares of 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 valued at $876,648,000 after buying an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after acquiring an additional 523,038 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Martin Marietta Materials by 54.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after purchasing an additional 106,002 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Martin Marietta Materials by 682.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock worth $40,393,000 after purchasing an additional 65,454 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.4 %

MLM opened at $585.26 on Thursday. The stock’s fifty day moving average is $560.58 and its 200-day moving average is $556.31. Martin Marietta Materials, Inc. has a one year low of $456.83 and a one year high of $633.23. The company has a market capitalization of $35.77 billion, a PE ratio of 18.24, a P/E/G ratio of 3.90 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share 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 analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.94 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MLM shares. Barclays increased their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Truist Financial dropped 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 report on Friday, August 9th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Stephens cut their price target 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. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.