Chevy Chase Trust Holdings LLC Sells 68 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Chevy Chase Trust Holdings LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,250 shares of the construction company’s stock after selling 68 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Martin Marietta Materials worth $15,898,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Lee Danner & Bass Inc. bought a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials in the 4th quarter worth $32,000. Hopwood Financial Services Inc. purchased a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $36,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 34 shares during the last quarter. Finally, Bellwether Advisors LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $46,000. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MLM shares. Raymond James Financial dropped their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Loop Capital cut their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley upped their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Royal Bank Of Canada assumed coverage on shares of Martin Marietta Materials in a research note on Monday, June 16th. They issued a “sector perform” rating and a $515.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $603.86.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $535.06 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. The stock has a market capitalization of $32.25 billion, a P/E ratio of 30.82, a PEG ratio of 5.01 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company has a 50 day moving average price of $538.88 and a 200 day moving average price of $520.24.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

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.