Chevy Chase Trust Holdings LLC Has $18.31 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,012 shares of the construction company's stock after selling 908 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Martin Marietta Materials worth $18,307,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. grew its position in Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock worth $741,000 after buying an additional 1,322 shares during the last quarter. Socorro Asset Management LP grew its position in Martin Marietta Materials by 0.4% in the third quarter. Socorro Asset Management LP now owns 12,793 shares of the construction company's stock worth $6,886,000 after buying an additional 57 shares during the last quarter. Edgestream Partners L.P. grew its position in Martin Marietta Materials by 170.0% in the third quarter. Edgestream Partners L.P. now owns 3,354 shares of the construction company's stock worth $1,805,000 after buying an additional 2,112 shares during the last quarter. Verition Fund Management LLC boosted its stake in Martin Marietta Materials by 180.7% in the 3rd quarter. Verition Fund Management LLC now owns 7,812 shares of the construction company's stock worth $4,205,000 after purchasing an additional 5,029 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Martin Marietta Materials by 10.4% in the 3rd quarter. Captrust Financial Advisors now owns 29,777 shares of the construction company's stock worth $16,028,000 after purchasing an additional 2,794 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MLM. Jefferies Financial Group decreased their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Truist Financial decreased 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 note on Friday, August 9th. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a "buy" rating and a $730.00 target price for the company. Stephens decreased their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $644.46.

Martin Marietta Materials Trading Down 1.1 %

NYSE:MLM traded down $6.75 during trading hours on Wednesday, hitting $582.00. The stock had a trading volume of 350,959 shares, compared to its average volume of 445,844. Martin Marietta Materials, Inc. has a one year low of $456.83 and a one year 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 company has a market cap of $35.57 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 4.02 and a beta of 0.89. The business's 50 day moving average is $574.12 and its 200-day moving average is $556.15.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $6.94 EPS. The firm's revenue was down 5.3% on a year-over-year basis. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is 9.85%.

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.