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

Thrivent Financial for Lutherans cut its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock valued at $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after acquiring an additional 52 shares in the last quarter. First Personal Financial Services purchased a new position in Martin Marietta Materials in the third quarter valued at about $33,000. Fortitude Family Office LLC grew its stake in Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials during the 1st quarter worth approximately $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 0.4 %

Shares of NYSE MLM opened at $585.26 on Thursday. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 3.90 and a beta of 0.90. The stock's 50 day simple moving average is $560.58 and its 200 day simple moving average is $556.31. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. 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 announced 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). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $6.94 EPS. The business's revenue was down 5.3% compared to the same quarter last year. Equities research analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid 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 payout ratio is currently 9.85%.

Analyst Upgrades and Downgrades

MLM has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on 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. 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 price objective on the stock. 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. Finally, JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $634.85.

Martin Marietta Materials 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.