Tran Capital Management L.P. Sells 30,600 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Tran Capital Management L.P. lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 35.3% during the first quarter, Holdings Channel reports. The fund owned 56,155 shares of the construction company’s stock after selling 30,600 shares during the period. Martin Marietta Materials makes up approximately 3.8% of Tran Capital Management L.P.’s holdings, making the stock its 13th biggest holding. Tran Capital Management L.P.’s holdings in Martin Marietta Materials were worth $34,476,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MLM. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $27,000. Finally, Benjamin Edwards Inc. raised its position in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.3 %

NYSE MLM traded down $1.51 on Thursday, reaching $533.32. The company had a trading volume of 186,620 shares, compared to its average volume of 446,820. The stock has a market capitalization of $32.87 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.37 and a beta of 0.91. The company’s fifty day moving average is $570.77 and its 200 day moving average is $557.62. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 EPS. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.56%. Martin Marietta Materials’s payout ratio is 8.77%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MLM shares. Citigroup increased their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Truist Financial raised their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Loop Capital dropped their target price on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $610.25.

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.