Russell Investments Group Ltd. Sells 2,778 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Posted by Defense World Staff on May 12th, 2023

Russell Investments Group Ltd. trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,667 shares of the construction company’s stock after selling 2,778 shares during the period. Russell Investments Group Ltd. owned 0.06% of Martin Marietta Materials worth $12,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lincoln National Corp boosted its holdings in shares of Martin Marietta Materials by 78.8% in the fourth quarter. Lincoln National Corp now owns 1,116 shares of the construction company’s stock worth $377,000 after acquiring an additional 492 shares during the period. Main Street Financial Solutions LLC boosted its holdings in shares of Martin Marietta Materials by 3.4% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,824 shares of the construction company’s stock worth $619,000 after acquiring an additional 60 shares during the period. Arizona State Retirement System boosted its holdings in shares of Martin Marietta Materials by 3.1% in the fourth quarter. Arizona State Retirement System now owns 17,655 shares of the construction company’s stock worth $5,967,000 after acquiring an additional 531 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Martin Marietta Materials by 14.2% in the fourth quarter. Toronto Dominion Bank now owns 33,210 shares of the construction company’s stock worth $11,218,000 after acquiring an additional 4,131 shares during the period. Finally, Mawer Investment Management Ltd. boosted its holdings in shares of Martin Marietta Materials by 0.6% in the fourth quarter. Mawer Investment Management Ltd. now owns 296,443 shares of the construction company’s stock worth $100,189,000 after acquiring an additional 1,784 shares during the period. 93.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of analyst reports. Loop Capital raised their price target on Martin Marietta Materials from $450.00 to $475.00 in a report on Friday, May 5th. DA Davidson increased their price objective on Martin Marietta Materials from $450.00 to $465.00 in a research report on Wednesday. StockNews.com initiated coverage on Martin Marietta Materials in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on Martin Marietta Materials from $390.00 to $386.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 20th. Finally, Raymond James increased their price objective on Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $412.75.

Martin Marietta Materials Trading Down 0.1 %

NYSE MLM opened at $400.57 on Friday. The stock’s 50-day simple moving average is $353.58 and its two-hundred day simple moving average is $352.28. Martin Marietta Materials, Inc. has a twelve month low of $284.99 and a twelve month high of $404.87. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.63 and a beta of 0.87. The company has a quick ratio of 1.40, a current ratio of 2.12 and a debt-to-equity ratio of 0.60.

Martin Marietta Materials (NYSE:MLM – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The construction company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $1.17. Martin Marietta Materials had a return on equity of 12.31% and a net margin of 15.39%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts forecast that Martin Marietta Materials, Inc. will post 15.48 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 6th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.04%.

Martin Marietta Materials Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.