KBC Group NV Sells 50,954 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• KBC Group NV sold 50,954 shares of Martin Marietta Materials, reducing its stake by 87.1% to 7,544 shares valued at about $4.70 million at quarter-end.
• Analysts are mixed but broadly positive overall — the consensus rating is "Moderate Buy" with a consensus price target of $692.06 amid several recent target and rating adjustments.
• Martin Marietta recently missed quarterly EPS and revenue estimates (EPS $4.62 vs. $4.81 expected; revenue $1.53B vs. $1.66B expected) and declared a $0.83 quarterly dividend (annualized $3.32, ~0.5% yield).

KBC Group NV lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 87.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,544 shares of the construction company's stock after selling 50,954 shares during the period. KBC Group NV's holdings in Martin Marietta Materials were worth $4,697,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Optima Capital LLC bought a new position in Martin Marietta Materials during the fourth quarter valued at about $25,000. Quent Capital LLC acquired a new position in shares of Martin Marietta Materials during the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $32,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company lowered their price target on Martin Marietta Materials from $612.00 to $608.00 and set an "equal weight" rating on the stock in a report on Wednesday. Loop Capital cut shares of Martin Marietta Materials from a "buy" rating to a "hold" rating and set a $690.00 price objective for the company. in a research note on Wednesday, January 28th. DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a report on Thursday, February 12th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $630.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Finally, Citigroup lifted their target price on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $692.06.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $622.91 on Monday. Martin Marietta Materials, Inc. has a 12 month low of $478.86 and a 12 month high of $710.97. The company has a market cap of $37.54 billion, a P/E ratio of 33.13, a P/E/G ratio of 2.46 and a beta of 1.19. The business's 50 day moving average is $626.20 and its two-hundred day moving average is $629.10. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.79 earnings per share. On average, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd were issued a $0.83 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio is 17.66%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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