Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Busey Bank

Busey Bank trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,356 shares of the construction company’s stock after selling 338 shares during the quarter. Busey Bank’s holdings in Martin Marietta Materials were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its stake in Martin Marietta Materials by 682.5% during the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock valued at $40,393,000 after purchasing an additional 65,454 shares during the last quarter. First National Bank of Hutchinson increased its holdings in shares of Martin Marietta Materials by 75.6% in the third quarter. First National Bank of Hutchinson now owns 1,888 shares of the construction company’s stock valued at $1,016,000 after buying an additional 813 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Martin Marietta Materials by 46,996.7% during the 3rd quarter. International Assets Investment Management LLC now owns 56,516 shares of the construction company’s stock valued at $30,420,000 after acquiring an additional 56,396 shares during the last quarter. Greenleaf Trust boosted its stake in shares of Martin Marietta Materials by 4.2% during the 3rd quarter. Greenleaf Trust now owns 1,135 shares of the construction company’s stock worth $611,000 after acquiring an additional 46 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 11.2% during the 3rd quarter. Weaver Capital Management LLC now owns 4,242 shares of the construction company’s stock worth $2,283,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.4 %

NYSE MLM opened at $570.65 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The firm’s fifty day simple moving average is $536.09 and its 200-day simple moving average is $557.20. The company has a market capitalization of $34.88 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $5.60 earnings per share. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.79 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.55%. Martin Marietta Materials’s payout ratio is 9.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Truist Financial reduced their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stephens decreased their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Citigroup reduced their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Loop Capital lowered their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $619.36.

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.