Truist Financial Corp Cuts Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Truist Financial Corp lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 70.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,442 shares of the construction company’s stock after selling 73,656 shares during the period. Truist Financial Corp’s holdings in Martin Marietta Materials were worth $15,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Personal Financial Services purchased a new position in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Retirement Wealth Solutions LLC purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $41,000. R Squared Ltd purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $41,000. Larson Financial Group LLC purchased a new position in Martin Marietta Materials in the 3rd quarter worth approximately $49,000. Finally, Fortitude Family Office LLC grew its stake in Martin Marietta Materials by 60.3% in the 4th quarter. Fortitude Family Office LLC now owns 101 shares of the construction company’s stock worth $52,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 2.3 %

Shares of NYSE MLM opened at $521.65 on Thursday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12 month low of $482.72 and a 12 month high of $633.23. The firm has a market capitalization of $31.88 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 4.61 and a beta of 0.91. The firm has a fifty day simple moving average of $532.38 and a two-hundred day simple moving average of $547.79.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MLM shares. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research note on Wednesday, January 8th. HSBC raised shares of 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. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Loop Capital cut their price objective on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, UBS Group started coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

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.