Busey Bank Sells 127 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Busey Bank trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,229 shares of the construction company’s stock after selling 127 shares during the period. Busey Bank’s holdings in Martin Marietta Materials were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the period. FMR LLC grew its holdings in Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after purchasing an additional 334,605 shares during the period. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 76.2% during the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after purchasing an additional 704,460 shares during the period. Franklin Resources Inc. grew its holdings in Martin Marietta Materials by 1.9% during the third quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock valued at $295,397,000 after purchasing an additional 9,908 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 54.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after acquiring an additional 164,503 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.3 %

NYSE MLM opened at $540.51 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock has a market capitalization of $33.04 billion, a PE ratio of 16.84, a PEG ratio of 3.21 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $490.05 and a 1 year high of $633.23. The business’s 50-day moving average is $548.40 and its 200 day moving average is $551.33.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.94 earnings per share. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $0.79 dividend. The ex-dividend date was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. Martin Marietta Materials’s payout ratio is presently 9.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MLM shares. Loop Capital increased their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Raymond James lowered their price objective on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Hsbc Global Res raised Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $648.71.

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.