Mirae Asset Global Investments Co. Ltd. Sells 611 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,327 shares of the construction company's stock after selling 611 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Martin Marietta Materials were worth $3,980,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Martin Marietta Materials by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after acquiring an additional 36,531 shares during the last quarter. Amundi raised its holdings in shares of Martin Marietta Materials by 10.5% during the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock valued at $808,005,000 after purchasing an additional 148,065 shares during the period. Geode Capital Management LLC raised its holdings in shares of Martin Marietta Materials by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after acquiring an additional 32,082 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Martin Marietta Materials by 5.4% in the 4th quarter. Invesco Ltd. now owns 873,629 shares of the construction company's stock worth $451,229,000 after acquiring an additional 44,680 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its holdings in shares of Martin Marietta Materials by 46.6% in the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after acquiring an additional 245,000 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

MLM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Loop Capital reduced their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Royal Bank Of Canada started coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $603.86.

Martin Marietta Materials Stock Performance

MLM traded down $0.78 on Friday, hitting $557.89. The company's stock had a trading volume of 310,586 shares, compared to its average volume of 484,146. The company's 50 day simple moving average is $546.78 and its 200-day simple moving average is $520.06. The firm has a market cap of $33.63 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 5.07 and a beta of 0.87. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. 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 (NYSE:MLM - Get Free Report) last posted 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 net margin of 16.07% and a return on equity of 12.01%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the company posted $1.93 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business 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. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

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.