Bank of New York Mellon Corp Has $197.22 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of New York Mellon Corp lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 412,487 shares of the construction company's stock after selling 13,035 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of Martin Marietta Materials worth $197,223,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at $235,000. Waverly Advisors LLC lifted its stake in shares of Martin Marietta Materials by 78.9% during the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after acquiring an additional 459 shares during the period. Mather Group LLC. lifted its stake in shares of Martin Marietta Materials by 65.5% during the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after acquiring an additional 110 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Martin Marietta Materials by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after acquiring an additional 40 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in shares of Martin Marietta Materials by 30.5% during the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MLM. Morgan Stanley upped their price target on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their target price for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Loop Capital cut their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Finally, Royal Bank Of Canada started coverage on Martin Marietta Materials in a research note on Monday, June 16th. They issued a "sector perform" rating and a $515.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $603.86.

Martin Marietta Materials Stock Down 0.5%

Shares of NYSE MLM traded down $3.01 during mid-day trading on Friday, reaching $561.37. 269,548 shares of the company's stock were exchanged, compared to its average volume of 476,704. The firm has a market capitalization of $33.84 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 5.12 and a beta of 0.87. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $551.11 and a 200 day simple moving average of $521.08. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $1.93 earnings per share. Martin Marietta Materials's revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

About Martin Marietta Materials

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.