First Citizens Bank & Trust Co. Sells 59 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

First Citizens Bank & Trust Co. lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,049 shares of the construction company’s stock after selling 59 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Martin Marietta Materials were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. bought a new stake in Martin Marietta Materials in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $554.32 on Wednesday. The company has a market capitalization of $33.42 billion, a P/E ratio of 17.15, a P/E/G ratio of 4.45 and a beta of 0.89. The business’s 50 day moving average is $524.49 and its two-hundred day moving average is $523.44. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $1.93 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. 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 Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. Martin Marietta Materials’s dividend payout ratio is presently 18.20%.

Analysts Set New Price Targets

MLM has been the subject of several research reports. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their target price for the stock from $548.00 to $634.00 in a report on Friday, May 16th. Stephens reduced their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial reduced their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $610.69.

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.