TimesSquare Capital Management LLC Sells 14,894 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

TimesSquare Capital Management LLC trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,160 shares of the construction company's stock after selling 14,894 shares during the quarter. TimesSquare Capital Management LLC owned about 0.15% of Martin Marietta Materials worth $48,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $33,000. Kestra Investment Management LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $35,000. R Squared Ltd bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $41,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth about $41,000. Finally, Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $49,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. HSBC upgraded shares of Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 target price on the stock in a report on Wednesday, December 11th. BNP Paribas downgraded shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Raymond James dropped their target price on shares of Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Finally, Wolfe Research upgraded 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. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $639.43.

Martin Marietta Materials Stock Down 3.2 %

MLM traded down $16.10 on Friday, reaching $489.94. 730,657 shares of the company traded hands, compared to its average volume of 446,578. The stock's 50 day moving average price is $531.34 and its 200-day moving average price is $547.49. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 4.58 and a beta of 0.91. 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 (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.54% and a return on equity of 12.11%. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials's payout ratio is presently 9.77%.

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.