Impax Asset Management Group plc Sells 25 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Impax Asset Management Group plc lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,030 shares of the construction company’s stock after selling 25 shares during the quarter. Impax Asset Management Group plc’s holdings in Martin Marietta Materials were worth $1,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Personal Financial Services bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth about $33,000. Kestra Investment Management LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at about $35,000. Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at about $41,000. R Squared Ltd bought a new position in Martin Marietta Materials in the 4th quarter valued at about $41,000. Finally, Midwest Capital Advisors LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at about $47,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MLM. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target on the stock in a research report on Wednesday, January 8th. Stephens dropped their price target on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Truist Financial dropped their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Trading Down 0.2 %

Shares of MLM stock opened at $489.72 on Wednesday. The company has a 50 day moving average of $528.99 and a 200-day moving average of $546.80. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $482.72 and a 12-month high of $633.23. The firm has a market cap of $29.93 billion, a P/E ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

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.