Martin Marietta Materials, Inc. (NYSE:MLM) Position Decreased by Baillie Gifford & Co.

Baillie Gifford & Co. reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,911,320 shares of the construction company's stock after selling 207,857 shares during the quarter. Martin Marietta Materials accounts for 0.8% of Baillie Gifford & Co.'s portfolio, making the stock its 29th largest position. Baillie Gifford & Co. owned about 3.13% of Martin Marietta Materials worth $987,197,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials in the third quarter valued at $33,000. R Squared Ltd purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $41,000. Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials during the 4th quarter valued at $41,000. Larson Financial Group LLC bought a new position in Martin Marietta Materials during the 3rd quarter valued at $49,000. Finally, Fortitude Family Office LLC boosted its stake in Martin Marietta Materials by 60.3% during the 4th quarter. Fortitude Family Office LLC now owns 101 shares of the construction company's stock valued at $52,000 after acquiring an additional 38 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Thursday. Citigroup reduced their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Truist Financial reduced their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. HSBC upgraded shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. Finally, Raymond James reduced their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM stock traded down $15.48 during trading hours on Thursday, reaching $505.47. The stock had a trading volume of 566,201 shares, compared to its average volume of 437,970. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a twelve month low of $482.72 and a twelve month high of $633.23. The firm has a 50-day simple moving average of $531.34 and a 200-day simple moving average of $547.49. The firm has a market capitalization of $30.89 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 4.69 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.63%. Martin Marietta Materials's payout ratio is 9.77%.

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.