Bank of New York Mellon Corp Sells 14,631 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of New York Mellon Corp lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 425,522 shares of the construction company’s stock after selling 14,631 shares during the period. Bank of New York Mellon Corp’s holdings in Martin Marietta Materials were worth $219,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. First Personal Financial Services bought a new position in Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth $35,000. Retirement Wealth Solutions LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter worth $41,000. R Squared Ltd acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $41,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $47,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 1.6 %

MLM opened at $483.06 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $527.00 and its 200 day simple moving average is $546.10. Martin Marietta Materials, Inc. has a 1-year low of $482.14 and a 1-year high of $633.23. The stock has a market cap of $29.52 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.65%. Martin Marietta Materials’s payout ratio is currently 9.77%.

Analysts Set New Price Targets

MLM has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target on the stock. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $639.43.

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.