PNC Financial Services Group Inc. Sells 2,022 Shares of Martin Marietta Materials, Inc. $MLM

PNC Financial Services Group Inc. decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,938 shares of the construction company’s stock after selling 2,022 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Martin Marietta Materials were worth $21,745,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Optima Capital LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth about $25,000. Meeder Asset Management Inc. boosted its stake in shares of Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Martin Marietta Materials in the 4th quarter valued at about $31,000. Reflection Asset Management acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth approximately $35,000. Finally, Quarry LP acquired a new stake in shares of Martin Marietta Materials during the 3rd quarter worth approximately $38,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

NYSE MLM opened at $560.71 on Friday. The stock has a market cap of $33.67 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 2.32 and a beta of 1.10. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The business has a 50 day simple moving average of $575.98 and a 200 day simple moving average of $610.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a $0.83 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 7.91%.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Truist Financial lifted their target price on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Royal Bank Of Canada dropped their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research report on Monday, May 4th. Finally, B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a research note on Thursday, April 2nd. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $681.53.

Martin Marietta Materials 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.