T. Rowe Price Investment Management Inc. Has $571.33 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

T. Rowe Price Investment Management Inc. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 12.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 917,565 shares of the construction company’s stock after selling 136,097 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Martin Marietta Materials were worth $571,332,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its position in Martin Marietta Materials by 6.6% in the first quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock valued at $379,000 after acquiring an additional 49 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after acquiring an additional 144 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Martin Marietta Materials by 11.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after purchasing an additional 51 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 205.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after purchasing an additional 175 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in shares of Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $609.20 on Friday. The business has a 50 day moving average of $589.57 and a 200-day moving average of $618.31. The company has a market capitalization of $36.58 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.51 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

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

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MLM. Jefferies Financial Group reiterated a “buy” rating and set a $785.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 26th. UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Raymond James Financial set a $690.00 target price on shares of Martin Marietta Materials in a research note on Monday, April 27th. Wells Fargo & Company upped their price target on shares of Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials 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.