Massmutual Trust Co. FSB ADV Cuts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Massmutual Trust Co. FSB ADV lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 4.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,115 shares of the construction company’s stock after selling 48 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Martin Marietta Materials were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. Point72 Asset Management L.P. grew its stake in shares of Martin Marietta Materials by 217.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 414,585 shares of the construction company’s stock worth $124,060,000 after buying an additional 283,994 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Martin Marietta Materials by 42.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 743,947 shares of the construction company’s stock worth $239,618,000 after buying an additional 222,244 shares during the last quarter. Amundi lifted its position in Martin Marietta Materials by 18.4% in the 2nd quarter. Amundi now owns 1,007,676 shares of the construction company’s stock valued at $314,617,000 after acquiring an additional 156,354 shares in the last quarter. Millennium Management LLC lifted its position in Martin Marietta Materials by 131.8% in the 2nd quarter. Millennium Management LLC now owns 272,452 shares of the construction company’s stock valued at $81,529,000 after acquiring an additional 154,923 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its position in Martin Marietta Materials by 286.4% in the 3rd quarter. Balyasny Asset Management LLC now owns 206,735 shares of the construction company’s stock valued at $66,587,000 after acquiring an additional 153,234 shares in the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MLM. StockNews.com began coverage on Martin Marietta Materials in a research report on Thursday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $410.00 to $395.00 in a research report on Thursday, December 8th. Loop Capital upped their price objective on Martin Marietta Materials from $410.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. The Goldman Sachs Group upped their price objective on Martin Marietta Materials from $374.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, February 15th. Finally, Seaport Res Ptn reissued a “neutral” rating on shares of Martin Marietta Materials in a report on Friday, February 10th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.50.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $320.60 on Friday. Martin Marietta Materials, Inc. has a one year low of $284.99 and a one year high of $406.85. The stock’s fifty day moving average is $354.03 and its 200 day moving average is $344.86. The stock has a market cap of $19.91 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.39 and a current ratio of 1.99.

Martin Marietta Materials (NYSE:MLM – Get Rating) last announced its earnings results on Wednesday, February 15th. The construction company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. Martin Marietta Materials had a return on equity of 11.03% and a net margin of 14.07%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $3.15 EPS. Martin Marietta Materials’s revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 14.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 6th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 0.82%. Martin Marietta Materials’s dividend payout ratio is currently 19.02%.

About Martin Marietta Materials

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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.