PNC Financial Services Group Inc. Sells 397 Shares of Martin Marietta Materials, Inc. $MLM

PNC Financial Services Group Inc. reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,323 shares of the construction company’s stock after selling 397 shares during the quarter. PNC Financial Services Group Inc. owned about 0.07% of Martin Marietta Materials worth $22,685,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Parkside Financial Bank & Trust grew its holdings in Martin Marietta Materials by 10.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after buying an additional 17 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Martin Marietta Materials by 1.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,205 shares of the construction company’s stock worth $661,000 after buying an additional 21 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Martin Marietta Materials by 1.9% in the second quarter. Fidelis Capital Partners LLC now owns 1,113 shares of the construction company’s stock valued at $666,000 after acquiring an additional 21 shares during the period. CVA Family Office LLC grew its stake in shares of Martin Marietta Materials by 21.4% in the second quarter. CVA Family Office LLC now owns 125 shares of the construction company’s stock worth $69,000 after acquiring an additional 22 shares during the last quarter. Finally, NewSquare Capital LLC increased its position in Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MLM shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Martin Marietta Materials in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley boosted their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Finally, Stephens reiterated an “overweight” rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $644.38.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $596.11 on Friday. The firm has a market cap of $35.95 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 5.57 and a beta of 1.06. The firm’s 50-day simple moving average is $621.02 and its 200-day simple moving average is $586.71. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $665.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. Martin Marietta Materials has set its FY 2025 guidance at EPS. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 17.50%.

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.