Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,050 shares of the construction company’s stock after selling 575 shares during the period. Amalgamated Bank’s holdings in Martin Marietta Materials were worth $6,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Street Advisors Inc. NC lifted its position in shares of Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock worth $13,037,000 after purchasing an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Martin Marietta Materials by 18.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after buying an additional 1,286 shares during the period. RMR Wealth Builders lifted its holdings in Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after buying an additional 1,941 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $734,000. Finally, Benjamin Edwards Inc. boosted its position in Martin Marietta Materials by 2,448.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after buying an additional 1,322 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MLM shares. Truist Financial reduced their price objective on 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. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Barclays decreased their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Raymond James cut 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 research note on Thursday, February 13th. Finally, UBS Group began coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Stock Up 0.2 %

Shares of NYSE:MLM opened at $491.15 on Thursday. 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 firm has a 50 day simple moving average of $527.89 and a 200-day simple moving average of $546.49. The company has a market capitalization of $30.02 billion, a PE ratio of 15.19, a P/E/G ratio of 4.45 and a beta of 0.91. Martin Marietta Materials, Inc. has a twelve month low of $482.72 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share 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, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 0.64%. Martin Marietta Materials’s dividend 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.