Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Trimmed by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 21.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,517 shares of the construction company's stock after selling 1,488 shares during the period. Crossmark Global Holdings Inc.'s holdings in Martin Marietta Materials were worth $2,970,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MLM. Norden Group LLC acquired a new position in shares of Martin Marietta Materials during the first quarter worth $209,000. NorthRock Partners LLC boosted its position in Martin Marietta Materials by 8.3% in the 1st quarter. NorthRock Partners LLC now owns 584 shares of the construction company's stock valued at $359,000 after buying an additional 45 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 27.2% during the first quarter. QRG Capital Management Inc. now owns 1,770 shares of the construction company's stock valued at $1,087,000 after acquiring an additional 379 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Martin Marietta Materials by 8.1% during the first quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company's stock worth $45,545,000 after acquiring an additional 5,576 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Martin Marietta Materials by 0.5% in the first quarter. US Bancorp DE now owns 10,074 shares of the construction company's stock worth $6,185,000 after acquiring an additional 53 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on MLM shares. JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Truist Financial dropped 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. Loop Capital increased their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Citigroup lowered their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating for the company in a report on Monday, August 12th. Finally, Stephens reduced their target price 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 analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $9.14 during trading hours on Tuesday, reaching $606.91. The stock had a trading volume of 84,867 shares, compared to its average volume of 446,308. The firm has a 50-day simple moving average of $550.70 and a 200-day simple moving average of $556.45. The firm has a market capitalization of $37.09 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a twelve month low of $451.37 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $1.89 billion for 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%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.94 earnings per share. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current 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 paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is presently 9.85%.

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.