Sumitomo Mitsui Trust Group Inc. Buys 2,066 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,970 shares of the construction company's stock after purchasing an additional 2,066 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Martin Marietta Materials worth $73,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted 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 valued at $876,648,000 after buying an additional 704,460 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company's stock worth $602,092,000 after purchasing an additional 523,038 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock worth $337,903,000 after purchasing an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of 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 during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock valued at $252,318,000 after buying an additional 11,749 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Down 0.8 %

Shares of MLM traded down $4.93 during trading hours on Friday, hitting $583.03. The company had a trading volume of 399,060 shares, compared to its average volume of 447,505. The stock's 50 day moving average price is $555.96 and its 200 day moving average price is $557.02. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52-week low of $451.37 and a 52-week high of $633.23. The firm has a market cap of $35.63 billion, a P/E ratio of 18.17, a P/E/G ratio of 4.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period last year, the company posted $6.94 EPS. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company 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 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is 9.85%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MLM. Stephens dropped their target price on Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Loop Capital boosted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Truist Financial lowered their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group reduced their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and a consensus 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.