Sumitomo Mitsui Trust Group Inc. Sells 5,927 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in Martin Marietta by 4.2%, selling 5,927 shares in Q4 and now holds 134,696 shares (about 0.22% of the company) valued at $83.87 million.
• Martin Marietta missed Q4 estimates, reporting EPS of $4.62 versus $4.81 expected and revenue of $1.53 billion versus $1.66 billion expected, although revenue was up 9.3% year‑over‑year.
• The stock trades near $631 with a market cap of ~$38.1 billion and a P/E of 33.6; the company pays a $0.83 quarterly dividend (0.5% yield) and has an analyst consensus of "Hold" with an average target of $692.31.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,696 shares of the construction company's stock after selling 5,927 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Martin Marietta Materials worth $83,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MLM. Ritholtz Wealth Management raised its holdings in shares of Martin Marietta Materials by 3.3% in the fourth quarter. Ritholtz Wealth Management now owns 667 shares of the construction company's stock valued at $415,000 after acquiring an additional 21 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Martin Marietta Materials by 7.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,109 shares of the construction company's stock worth $1,313,000 after acquiring an additional 139 shares in the last quarter. Apollon Wealth Management LLC increased its position in Martin Marietta Materials by 1.7% during the 4th quarter. Apollon Wealth Management LLC now owns 2,809 shares of the construction company's stock valued at $1,749,000 after purchasing an additional 46 shares during the period. Premier Path Wealth Partners LLC increased its position in Martin Marietta Materials by 2.5% during the 4th quarter. Premier Path Wealth Partners LLC now owns 902 shares of the construction company's stock valued at $562,000 after purchasing an additional 22 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in shares of Martin Marietta Materials by 2.6% in the 4th quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company's stock valued at $437,000 after purchasing an additional 18 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.6%

Shares of Martin Marietta Materials stock opened at $631.20 on Wednesday. The firm's 50 day moving average price is $629.85 and its 200-day moving average price is $629.24. 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, Inc. has a 52-week low of $478.86 and a 52-week high of $710.97. The company has a market cap of $38.07 billion, a P/E ratio of 33.57, a PEG ratio of 2.49 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.19). The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.79 EPS. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, March 2nd. Martin Marietta Materials's dividend payout ratio is currently 17.66%.

Analyst Ratings Changes

MLM has been the subject of several research reports. Wells Fargo & Company lowered their price target on shares of Martin Marietta Materials from $631.00 to $612.00 and set an "equal weight" rating for the company in a research report on Thursday, February 12th. Citigroup lifted their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Truist Financial set a $710.00 price objective on shares of Martin Marietta Materials in a research note on Thursday, February 12th. Royal Bank Of Canada restated a "sector perform" rating and set a $630.00 target price on shares of Martin Marietta Materials in a report on Thursday, February 26th. Finally, Zacks Research downgraded Martin Marietta Materials from a "hold" rating to a "strong sell" rating in a report on Friday, February 13th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $692.31.

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.

Want to see what other hedge funds are holding MLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Martin Marietta Materials, Inc. (NYSE:MLM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.