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Natixis Advisors LLC Reduces Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Martin Marietta Materials logo with Construction background

Key Points

  • Natixis Advisors LLC has reduced its position in Martin Marietta Materials by 10.8%, holding 89,498 shares worth approximately $42.79 million as of the end of the first quarter.
  • Several hedge funds have adjusted their stakes in Martin Marietta, with Principal Financial Group Inc. increasing its share ownership by 6.6% during the first quarter, now totaling around $927.78 million.
  • The company recently reported Q1 earnings of $1.90 EPS, beating the estimate of $1.88 EPS, with an 8.2% revenue increase compared to the same quarter last year.
  • Want stock alerts on Martin Marietta Materials? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Natixis Advisors LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,498 shares of the construction company's stock after selling 10,855 shares during the period. Natixis Advisors LLC owned approximately 0.15% of Martin Marietta Materials worth $42,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. NorthRock Partners LLC increased its holdings in Martin Marietta Materials by 14.9% in the first quarter. NorthRock Partners LLC now owns 915 shares of the construction company's stock valued at $437,000 after buying an additional 119 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Martin Marietta Materials by 2.2% during the 1st quarter. Arkadios Wealth Advisors now owns 1,753 shares of the construction company's stock valued at $838,000 after acquiring an additional 37 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $931,000. Mawer Investment Management Ltd. grew its stake in Martin Marietta Materials by 4.6% during the 1st quarter. Mawer Investment Management Ltd. now owns 290,506 shares of the construction company's stock valued at $138,900,000 after acquiring an additional 12,819 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in Martin Marietta Materials by 15.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,959 shares of the construction company's stock valued at $937,000 after purchasing an additional 260 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on MLM. Bank of America raised their target price on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday. Raymond James Financial decreased their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus increased their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada initiated 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. Finally, Wall Street Zen lowered shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $608.40.

View Our Latest Analysis on Martin Marietta Materials

Martin Marietta Materials Stock Performance

MLM traded up $3.25 during trading hours on Tuesday, reaching $605.57. The company's stock had a trading volume of 258,292 shares, compared to its average volume of 480,696. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. The firm has a market cap of $36.50 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 5.29 and a beta of 0.89. The company's 50-day moving average is $556.45 and its 200-day moving average is $526.29. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's payout ratio is currently 18.20%.

Martin Marietta Materials Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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