Savant Capital LLC Reduces Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Savant Capital LLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,557 shares of the construction company’s stock after selling 315 shares during the quarter. Savant Capital LLC’s holdings in Martin Marietta Materials were worth $805,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. JPMorgan Chase & Co. increased its holdings in shares of Martin Marietta Materials by 23.3% in 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 shares of Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after acquiring an additional 334,605 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Martin Marietta Materials by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after acquiring an additional 9,908 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MLM shares. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Morgan Stanley lowered their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Loop Capital lowered their price objective on Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday. BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Truist Financial lowered their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Trading Down 0.8 %

Shares of Martin Marietta Materials stock opened at $527.47 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The business has a fifty day simple moving average of $534.69 and a 200-day simple moving average of $548.93. Martin Marietta Materials, Inc. has a fifty-two week low of $482.72 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

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.