Swiss National Bank Sells 22,400 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Swiss National Bank decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 223,970 shares of the construction company’s stock after selling 22,400 shares during the period. Swiss National Bank owned about 0.36% of Martin Marietta Materials worth $103,405,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MLM. Norges Bank bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $197,591,000. Fred Alger Management LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $184,478,000. Morgan Stanley lifted its stake in Martin Marietta Materials by 51.6% in the fourth quarter. Morgan Stanley now owns 737,821 shares of the construction company’s stock valued at $249,362,000 after acquiring an additional 251,047 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at about $80,252,000. Finally, Congress Asset Management Co. MA lifted its stake in Martin Marietta Materials by 258.0% in the 2nd quarter. Congress Asset Management Co. MA now owns 242,594 shares of the construction company’s stock valued at $112,003,000 after purchasing an additional 174,835 shares during the last quarter. Institutional investors own 93.22% of the company’s stock.

Insider Activity

In related news, VP Craig M. Latorre sold 1,934 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $431.68, for a total value of $834,869.12. Following the sale, the vice president now owns 9,731 shares of the company’s stock, valued at $4,200,678.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MLM. Barclays raised their price objective on Martin Marietta Materials from $430.00 to $490.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Raymond James increased their price objective on shares of Martin Marietta Materials from $490.00 to $505.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. JPMorgan Chase & Co. upped their price target on shares of Martin Marietta Materials from $470.00 to $490.00 and gave the company a “neutral” rating in a research note on Thursday, August 24th. Stephens raised their price objective on shares of Martin Marietta Materials from $525.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Finally, Truist Financial boosted their price objective on Martin Marietta Materials from $446.00 to $550.00 and gave the stock a “buy” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.79.

Martin Marietta Materials Trading Up 2.8 %

MLM opened at $464.56 on Wednesday. The company’s 50 day moving average is $425.31 and its 200-day moving average is $429.24. The company has a market cap of $28.71 billion, a P/E ratio of 26.96, a PEG ratio of 1.15 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $317.94 and a 1-year high of $468.50. The company has a current ratio of 2.47, a quick ratio of 1.60 and a debt-to-equity ratio of 0.51.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, November 1st. The construction company reported $6.94 EPS for the quarter, beating analysts’ consensus estimates of $6.04 by $0.90. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Martin Marietta Materials had a return on equity of 14.89% and a net margin of 16.10%. Martin Marietta Materials’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.69 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 18.22 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, November 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.18%.

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.