King Luther Capital Management Corp Has $386.38 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

King Luther Capital Management Corp decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 717,845 shares of the construction company’s stock after selling 2,043 shares during the quarter. Martin Marietta Materials comprises approximately 1.7% of King Luther Capital Management Corp’s holdings, making the stock its 14th largest position. King Luther Capital Management Corp’s holdings in Martin Marietta Materials were worth $386,380,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Avantax Advisory Services Inc. bought a new stake in shares of Martin Marietta Materials in the first quarter worth $276,000. O Shaughnessy Asset Management LLC boosted its position in shares of Martin Marietta Materials by 35.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock valued at $2,359,000 after buying an additional 1,003 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Martin Marietta Materials by 7.3% during the 1st quarter. Bessemer Group Inc. now owns 4,670 shares of the construction company’s stock worth $2,868,000 after buying an additional 319 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in Martin Marietta Materials in the first quarter worth about $276,000. Finally, CANADA LIFE ASSURANCE Co increased its position in Martin Marietta Materials by 2.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 31,070 shares of the construction company’s stock worth $19,072,000 after buying an additional 734 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 0.4 %

Shares of NYSE:MLM opened at $585.26 on Thursday. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $560.58 and a 200 day moving average price of $556.31. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 3.89 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $6.94 EPS. The business’s revenue was down 5.3% compared to the same quarter last year. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MLM shares. JPMorgan Chase & Co. cut their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Loop Capital boosted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Citigroup decreased their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.85.

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.