Alkeon Capital Management LLC Sells 471 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Alkeon Capital Management LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.1% during the third quarter, Holdings Channel.com reports. The firm owned 526,198 shares of the construction company’s stock after selling 471 shares during the quarter. Alkeon Capital Management LLC’s holdings in Martin Marietta Materials were worth $283,226,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Principal Financial Group Inc. raised its holdings 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 worth $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after acquiring an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Martin Marietta Materials by 54.2% during 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 last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 worth $252,318,000 after purchasing an additional 11,749 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MLM shares. Jefferies Financial Group dropped their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the company from $515.00 to $640.00 in a report on Wednesday. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Finally, Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $644.46.

Martin Marietta Materials Trading Down 0.2 %

NYSE:MLM opened at $595.60 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $570.11 and its 200 day moving average is $556.63. The stock has a market capitalization of $36.40 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 4.04 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 earnings per share. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Martin Marietta Materials 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.