Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,055 shares of the construction company’s stock after selling 541 shares during the quarter. MetLife Investment Management LLC’s holdings in Martin Marietta Materials were worth $8,642,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its holdings in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC grew its position in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the period. First Personal Financial Services purchased a new position in Martin Marietta Materials in the third quarter valued at $33,000. Fortitude Family Office LLC raised its position in shares of Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Martin Marietta Materials during the 1st quarter worth about $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

MLM stock opened at $595.60 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $456.83 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The firm has a market capitalization of $36.40 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 4.04 and a beta of 0.90. The business has a 50 day simple moving average of $570.11 and a 200-day simple moving average of $556.63.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $6.94 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MLM. Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial dropped 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 research report on Friday, August 9th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target for the company. Finally, StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $644.46.

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.