Federated Hermes Inc. Lowers Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Federated Hermes Inc. decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 89,243 shares of the construction company's stock after selling 2,750 shares during the period. Federated Hermes Inc. owned about 0.15% of Martin Marietta Materials worth $42,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Martin Marietta Materials by 6.6% in the first quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock worth $927,775,000 after purchasing an additional 120,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock valued at $758,499,000 after acquiring an additional 32,082 shares in the last quarter. Invesco Ltd. boosted its holdings in Martin Marietta Materials by 5.4% in the fourth quarter. Invesco Ltd. now owns 873,629 shares of the construction company's stock valued at $451,229,000 after acquiring an additional 44,680 shares in the last quarter. Alkeon Capital Management LLC boosted its holdings in Martin Marietta Materials by 46.6% in the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock valued at $398,324,000 after acquiring an additional 245,000 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Martin Marietta Materials by 58,570.5% in the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock valued at $333,540,000 after acquiring an additional 696,403 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

MLM traded up $2.27 during mid-day trading on Friday, reaching $577.15. 393,100 shares of the company traded hands, compared to its average volume of 327,666. The company's fifty day moving average price is $556.45 and its 200-day moving average price is $526.36. The stock has a market capitalization of $34.79 billion, a P/E ratio of 33.25, a P/E/G ratio of 5.27 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the firm posted $1.93 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were given a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price target for the company from $548.00 to $634.00 in a report on Friday, May 16th. Raymond James Financial lowered their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Royal Bank Of Canada began coverage on Martin Marietta Materials in a research report on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective for the company. Finally, Stifel Nicolaus raised their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have 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 target price of $605.93.

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.