Rhumbline Advisers Sells 1,578 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Rhumbline Advisers trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,596 shares of the construction company's stock after selling 1,578 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Martin Marietta Materials worth $57,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after buying an additional 506,705 shares during the last quarter. FMR LLC increased its holdings in shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 76.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Franklin Resources Inc. lifted its stake in Martin Marietta Materials by 1.9% during the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company's stock worth $295,397,000 after purchasing an additional 9,908 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Martin Marietta Materials by 54.2% in the third 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 in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $15.48 during trading on Thursday, reaching $505.47. The company's stock had a trading volume of 566,201 shares, compared to its average volume of 437,970. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $532.38 and a two-hundred day moving average price of $547.79. Martin Marietta Materials, Inc. has a one year low of $482.72 and a one year high of $633.23. The stock has a market capitalization of $30.89 billion, a P/E 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 announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BNP Paribas lowered shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. HSBC raised Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. Wolfe Research raised shares of Martin Marietta Materials from a "peer perform" rating to an "outperform" rating and set a $563.00 target price on the stock in a report on Wednesday, January 8th. Finally, Truist Financial decreased their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $639.43.

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.