Deseret Mutual Benefit Administrators Sells 104 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

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Deseret Mutual Benefit Administrators cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196 shares of the construction company’s stock after selling 104 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Martin Marietta Materials were worth $67,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 464.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 79 shares of the construction company’s stock worth $28,000 after acquiring an additional 65 shares during the period. AllSquare Wealth Management LLC increased its position in Martin Marietta Materials by 100.0% during the second quarter. AllSquare Wealth Management LLC now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 50 shares during the period. Signaturefd LLC increased its position in Martin Marietta Materials by 128.8% during the third quarter. Signaturefd LLC now owns 119 shares of the construction company’s stock worth $41,000 after acquiring an additional 67 shares during the period. Koshinski Asset Management Inc. bought a new position in Martin Marietta Materials during the third quarter worth about $44,000. Finally, Bbva USA bought a new position in Martin Marietta Materials during the second quarter worth about $49,000. 91.42% of the stock is currently owned by institutional investors.

NYSE:MLM opened at $440.52 on Friday. The firm’s 50 day simple moving average is $420.18 and its 200 day simple moving average is $382.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 6.65 and a quick ratio of 5.46. Martin Marietta Materials, Inc. has a one year low of $274.64 and a one year high of $445.00. The company has a market cap of $27.48 billion, a PE ratio of 37.81 and a beta of 0.70.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, November 2nd. The construction company reported $4.25 EPS for the quarter, topping the consensus estimate of $4.24 by $0.01. Martin Marietta Materials had a net margin of 14.30% and a return on equity of 12.38%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $4.71 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post 11.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 1st were given a dividend of $0.61 per share. The ex-dividend date was Tuesday, November 30th. This represents a $2.44 annualized dividend and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio is presently 20.94%.

A number of equities analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Martin Marietta Materials in a research report on Wednesday, October 27th. They set a “market perform” rating and a $432.00 price target on the stock. Truist Securities raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $525.00 price target on the stock in a research report on Friday, December 10th. Citigroup raised their target price on shares of Martin Marietta Materials from $435.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, October 26th. Loop Capital raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $390.00 target price on the stock in a report on Wednesday, October 6th. Finally, Morgan Stanley raised their target price on shares of Martin Marietta Materials from $469.00 to $496.00 and gave the company an “overweight” rating in a report on Thursday, December 9th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of “Buy” and a consensus price target of $457.54.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregates products only.

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