Martin Marietta Materials, Inc. $MLM Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 24.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,229,587 shares of the construction company’s stock after selling 705,196 shares during the quarter. JPMorgan Chase & Co. owned about 3.70% of Martin Marietta Materials worth $1,388,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optima Capital LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Martin Marietta Materials during the third quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials during the third quarter worth about $32,000. Union Bancaire Privee UBP SA acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $36,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Martin Marietta Materials during the second quarter worth about $37,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

MLM stock opened at $554.24 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The firm has a market cap of $33.28 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.44 and a beta of 1.10. The stock has a 50-day simple moving average of $590.79 and a 200-day simple moving average of $619.94.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. DA Davidson set a $680.00 price target on Martin Marietta Materials in a research note on Thursday, February 12th. Truist Financial upped their price target on Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Stephens dropped their price target on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Wells Fargo & Company upped their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $681.94.

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.