Baillie Gifford & Co. Sells 86,143 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Baillie Gifford & Co. cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,119,177 shares of the construction company’s stock after selling 86,143 shares during the period. Martin Marietta Materials makes up approximately 0.9% of Baillie Gifford & Co.’s portfolio, making the stock its 27th biggest position. Baillie Gifford & Co. owned approximately 3.47% of Martin Marietta Materials worth $1,140,647,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after acquiring an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after acquiring an additional 11,749 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.6 %

NYSE MLM opened at $616.05 on Tuesday. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The stock has a market cap of $37.65 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.14 and a beta of 0.90. The stock’s fifty day moving average price is $549.06 and its 200-day moving average price is $556.31. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $6.94 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Truist Financial cut their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. UBS Group began coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Barclays boosted their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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.