Lathrop Investment Management Corp Has $18.99 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Lathrop Investment Management Corp reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,287 shares of the construction company's stock after selling 903 shares during the quarter. Martin Marietta Materials accounts for 3.5% of Lathrop Investment Management Corp's investment portfolio, making the stock its 6th biggest holding. Lathrop Investment Management Corp owned about 0.06% of Martin Marietta Materials worth $18,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock valued at $876,648,000 after purchasing an additional 704,460 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of 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 purchasing an additional 523,038 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Martin Marietta Materials by 54.2% during the 3rd 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 period. The Manufacturers Life Insurance Company grew its holdings in Martin Marietta Materials by 247.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company's stock valued at $80,634,000 after buying an additional 106,002 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Martin Marietta Materials by 682.5% during the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company's stock worth $40,393,000 after buying an additional 65,454 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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 note on Friday, August 9th. BNP Paribas upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Thursday, September 19th. StockNews.com upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Thursday. Barclays raised their price objective 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. Finally, Morgan Stanley boosted their price objective on 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 investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $634.85.

Martin Marietta Materials Trading Up 1.1 %

Shares of MLM stock traded up $6.23 on Friday, reaching $596.83. The company had a trading volume of 125,133 shares, compared to its average volume of 444,796. The company has a 50-day moving average of $563.67 and a 200-day moving average of $556.76. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market cap of $36.48 billion, a PE ratio of 18.44, a PEG ratio of 3.89 and a beta of 0.90. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23.

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 analysts' consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company's revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.94 EPS. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 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.