Amalgamated Bank Decreases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Amalgamated Bank cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,486 shares of the construction company’s stock after selling 419 shares during the quarter. Amalgamated Bank’s holdings in Martin Marietta Materials were worth $6,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MLM. Price T Rowe Associates Inc. MD grew its holdings in shares of Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after purchasing an additional 523,038 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in Martin Marietta Materials by 4,244.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company’s stock worth $138,289,000 after acquiring an additional 270,802 shares during the last quarter. Vanguard Group Inc. grew its holdings in Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares during the last quarter. M&G Plc purchased a new position in shares of Martin Marietta Materials in the first quarter valued at about $41,142,000. Finally, 1832 Asset Management L.P. raised its stake in shares of Martin Marietta Materials by 415,284.6% during the fourth quarter. 1832 Asset Management L.P. now owns 54,000 shares of the construction company’s stock valued at $26,941,000 after acquiring an additional 53,987 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on MLM shares. Jefferies Financial Group raised their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Citigroup dropped their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Stifel Nicolaus reduced their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Loop Capital decreased their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Price Performance

Shares of MLM opened at $548.56 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm’s 50-day simple moving average is $541.01 and its two-hundred day simple moving average is $567.60. The stock has a market cap of $33.81 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.60 EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is currently 9.36%.

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.