Martin Marietta Materials, Inc. $MLM Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 429.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,320 shares of the construction company’s stock after purchasing an additional 1,882 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Martin Marietta Materials were worth $1,113,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sax Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 3rd quarter worth $220,000. NorthCrest Asset Manangement LLC increased its holdings in shares of Martin Marietta Materials by 0.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 22,831 shares of the construction company’s stock worth $10,995,000 after buying an additional 156 shares during the last quarter. GK Wealth Management LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth about $32,000. Wedmont Private Capital increased its holdings in shares of Martin Marietta Materials by 92.9% in the 3rd quarter. Wedmont Private Capital now owns 1,458 shares of the construction company’s stock worth $702,000 after buying an additional 702 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its position in shares of Martin Marietta Materials by 27.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 55,793 shares of the construction company’s stock valued at $26,770,000 after buying an additional 12,089 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 4.5%

Shares of MLM opened at $492.17 on Friday. The company has a market cap of $29.56 billion, a PE ratio of 28.12, a P/E/G ratio of 2.24 and a beta of 1.08. The business has a fifty day moving average of $508.14 and a 200 day moving average of $557.58. Martin Marietta Materials, Inc. has a 52-week low of $464.92 and a 52-week high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm earned $5.43 earnings per share. Martin Marietta Materials’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.77 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a $0.84 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, September 1st. This represents a $3.36 annualized dividend and a dividend yield of 0.7%. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.26%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MLM shares. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Wells Fargo & Company dropped their price target on Martin Marietta Materials from $585.00 to $579.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Sanford C. Bernstein cut Martin Marietta Materials to an “underweight” rating in a research note on Wednesday, September 2nd. Weiss Ratings cut Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. Finally, UBS Group decreased their price objective on Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $644.71.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.