Thrivent Financial for Lutherans Has $14.21 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Thrivent Financial for Lutherans trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,519 shares of the construction company’s stock after selling 3,076 shares during the period. Thrivent Financial for Lutherans’ holdings in Martin Marietta Materials were worth $14,214,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised 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 last quarter. FMR LLC increased its holdings in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after purchasing an additional 334,605 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company’s stock valued at $939,898,000 after buying an additional 191,043 shares during the period. Amundi grew its position in shares of Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after buying an additional 148,065 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Martin Marietta Materials by 54,277.3% in the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after acquiring an additional 916,743 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.3 %

Shares of MLM stock opened at $477.49 on Friday. The firm’s fifty day moving average price is $511.26 and its two-hundred day moving average price is $539.18. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1 year low of $448.50 and a 1 year high of $633.23. The firm has a market capitalization of $29.11 billion, a P/E ratio of 14.77, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued 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 0.66%. Martin Marietta Materials’s payout ratio is 9.77%.

Insiders Place Their Bets

In other news, SVP Michael J. Petro bought 550 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $454.37 per share, with a total value of $249,903.50. Following the acquisition, the senior vice president now owns 8,985 shares in the company, valued at $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the transaction, the executive vice president now owns 3,523 shares of the company’s stock, valued at $1,673,425. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MLM shares. Raymond James reduced their price objective 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. 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 report on Thursday, February 13th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Loop Capital decreased their target price on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Wolfe Research raised Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $628.64.

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.