M&T Bank Corp Sells 2,465 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

M&T Bank Corp cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 12.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,372 shares of the construction company's stock after selling 2,465 shares during the period. M&T Bank Corp's holdings in Martin Marietta Materials were worth $8,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $28,000. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $29,000. Chilton Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after acquiring an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Loop Capital cut their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $603.86.

Martin Marietta Materials Stock Down 0.5%

Shares of MLM traded down $3.01 during mid-day trading on Friday, hitting $561.37. 269,548 shares of the company's stock were exchanged, compared to its average volume of 476,934. The company has a market cap of $33.84 billion, a PE ratio of 32.34, a P/E/G ratio of 5.10 and a beta of 0.87. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The company has a 50-day simple moving average of $551.11 and a 200 day simple moving average of $520.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $1.93 EPS. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials's dividend payout ratio is currently 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.