Smithfield Trust Co Reduces Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Smithfield Trust Co trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 21.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 175 shares of the construction company’s stock after selling 47 shares during the quarter. Smithfield Trust Co’s holdings in Martin Marietta Materials were worth $91,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MLM. Ameritas Advisory Services LLC grew its holdings in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after buying an additional 18 shares in the last quarter. Inspire Investing LLC grew its holdings in Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after buying an additional 19 shares in the last quarter. Mather Group LLC. grew its holdings in Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after buying an additional 20 shares in the last quarter. TFG Advisers LLC grew its holdings in Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after buying an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its holdings in Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after buying an additional 20 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MLM has been the subject of several analyst reports. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Stephens decreased their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Morgan Stanley upped their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Price Performance

MLM stock opened at $591.87 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The firm has a market capitalization of $36.18 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.89 and a beta of 0.90. The business’s 50-day moving average is $562.13 and its two-hundred day moving average is $556.52. Martin Marietta Materials, Inc. has a 1 year low of $456.83 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.94 EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

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.