Truist Financial Corp Sells 73,656 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Truist Financial Corp decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 70.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,442 shares of the construction company's stock after selling 73,656 shares during the period. Truist Financial Corp's holdings in Martin Marietta Materials were worth $15,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. FMR LLC grew its position in shares of Martin Marietta Materials by 15.3% during 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 period. Principal Financial Group Inc. grew its position in shares of Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock valued at $939,898,000 after acquiring an additional 191,043 shares during the period. Franklin Resources Inc. grew its position in shares of Martin Marietta Materials by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company's stock valued at $295,397,000 after acquiring an additional 9,908 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in shares of Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company's stock valued at $251,784,000 after acquiring an additional 164,503 shares during the period. Institutional investors own 95.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MLM. Raymond James cut their price target on Martin Marietta Materials from $630.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Stephens lowered their price objective on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. 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 report on Wednesday, November 27th. Barclays lowered their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus price target of $639.43.

Martin Marietta Materials Trading Down 3.2 %

Shares of MLM traded down $16.10 during mid-day trading on Friday, reaching $489.94. 730,657 shares of the company's stock traded hands, compared to its average volume of 465,940. The stock has a market cap of $29.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91. The stock's 50-day moving average is $531.34 and its two-hundred day moving average is $547.49. Martin Marietta Materials, Inc. has a 12 month low of $482.72 and a 12 month high of $633.23. 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 released its 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%. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.64%. Martin Marietta Materials's dividend payout ratio is 9.77%.

About Martin Marietta Materials

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.