Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Sagefield Capital LP

Sagefield Capital LP reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,513 shares of the construction company’s stock after selling 118 shares during the quarter. Sagefield Capital LP’s holdings in Martin Marietta Materials were worth $4,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 523,038 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after acquiring an additional 12,759 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after acquiring an additional 11,749 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Martin Marietta Materials by 1.0% in the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock valued at $203,073,000 after acquiring an additional 3,598 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 0.2 %

NYSE MLM opened at $545.40 on Tuesday. The firm’s fifty day moving average price is $540.62 and its 200 day moving average price is $566.21. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The company has a market capitalization of $33.62 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91.

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

Martin Marietta Materials Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MLM shares. Jefferies Financial Group boosted 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 boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Truist Financial reduced their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Citigroup dropped their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $629.82.

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.