Martin Marietta Materials, Inc. $MLM Stock Position Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,475 shares of the construction company’s stock after selling 1,250 shares during the period. Thrivent Financial for Lutherans’ holdings in Martin Marietta Materials were worth $11,508,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Martin Marietta Materials by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock worth $4,691,139,000 after purchasing an additional 93,595 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Martin Marietta Materials by 1.1% during the 3rd quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock worth $1,491,136,000 after purchasing an additional 25,155 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Martin Marietta Materials by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock worth $1,389,428,000 after purchasing an additional 192,637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Martin Marietta Materials by 1.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock worth $259,344,000 after purchasing an additional 5,038 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Martin Marietta Materials by 1.2% during the 3rd quarter. Raymond James Financial Inc. now owns 352,294 shares of the construction company’s stock worth $222,044,000 after purchasing an additional 4,071 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MLM shares. Jefferies Financial Group restated a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. DA Davidson set a $680.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Barclays dropped their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Truist Financial increased their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, UBS Group set a $739.00 price objective on Martin Marietta Materials in a report on Sunday, May 10th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $689.81.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $533.45 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 2.01 and a beta of 1.13. The business’s 50-day simple moving average is $596.46 and its 200-day simple moving average is $624.44. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 EPS. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.