Thrivent Financial for Lutherans Has $11.51 Million Stock Position in Martin Marietta Materials, Inc. $MLM

Thrivent Financial for Lutherans lowered its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,475 shares of the construction company’s stock after selling 1,250 shares during the period. Thrivent Financial for Lutherans’ holdings in Martin Marietta Materials were worth $11,508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Conning Inc. acquired a new stake in Martin Marietta Materials in the 4th quarter valued at approximately $206,000. Western Wealth Management LLC grew its holdings in Martin Marietta Materials by 24.6% in the 4th quarter. Western Wealth Management LLC now owns 532 shares of the construction company’s stock valued at $332,000 after buying an additional 105 shares during the last quarter. Allworth Financial LP grew its holdings in Martin Marietta Materials by 12.0% in the 4th quarter. Allworth Financial LP now owns 1,882 shares of the construction company’s stock valued at $1,172,000 after buying an additional 202 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in Martin Marietta Materials by 17.6% in the 4th quarter. Atlantic Union Bankshares Corp now owns 4,489 shares of the construction company’s stock valued at $2,795,000 after buying an additional 672 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Martin Marietta Materials by 29.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 907 shares of the construction company’s stock worth $565,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $533.45 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $32.03 billion, a PE ratio of 12.71, a PEG ratio of 2.01 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1-year low of $525.38 and a 1-year high of $710.97. The business’s 50 day moving average is $596.46 and its 200-day moving average is $624.44.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.Martin Marietta Materials’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company earned $1.90 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MLM. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a report on Monday, April 27th. Wells Fargo & Company lifted their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a report on Thursday, April 2nd. Finally, Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective on the stock. in a report on Wednesday, January 28th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $689.81.

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.