Vontobel Holding Ltd. Trims Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Vontobel Holding Ltd. cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 715 shares of the construction company’s stock after selling 95 shares during the quarter. Vontobel Holding Ltd.’s holdings in Martin Marietta Materials were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLM. Principal Financial Group Inc. lifted its position in shares of Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Martin Marietta Materials by 23.3% in the third 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 period. FMR LLC lifted 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 acquiring an additional 334,605 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Martin Marietta Materials by 7,608.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company’s stock worth $97,624,000 after buying an additional 179,020 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of 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 period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial dropped their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley decreased their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a research note on Wednesday, December 11th. Finally, Stephens lowered their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $505.47 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $482.72 and a 1 year high of $633.23. The stock has a market cap of $30.89 billion, a PE ratio of 15.63, a P/E/G ratio of 4.69 and a beta of 0.91. The stock has a fifty day moving average price of $531.34 and a 200 day moving average price of $547.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.77%.

About Martin Marietta Materials

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.