Thrivent Financial for Lutherans Sells 8,042 Shares of Martin Marietta Materials, Inc. $MLM

by · The Markets Daily

Thrivent Financial for Lutherans trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 29.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,477 shares of the construction company’s stock after selling 8,042 shares during the period. Thrivent Financial for Lutherans’ holdings in Martin Marietta Materials were worth $10,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at approximately $28,000. NewSquare Capital LLC grew its stake in shares of Martin Marietta Materials by 62.2% during the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares in the last quarter. Clearstead Trust LLC raised its holdings in shares of Martin Marietta Materials by 93.8% in the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after purchasing an additional 30 shares during the last quarter. Aspect Partners LLC lifted its position in shares of Martin Marietta Materials by 540.0% in the second quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after purchasing an additional 54 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Martin Marietta Materials in the second quarter worth $37,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MLM shares. Jefferies Financial Group lifted their price target on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Finally, Morgan Stanley upped their price objective on Martin Marietta Materials from $610.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $650.31.

Read Our Latest Report on Martin Marietta Materials

Martin Marietta Materials Price Performance

NYSE:MLM opened at $619.17 on Thursday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $665.18. The firm has a market capitalization of $37.34 billion, a price-to-earnings ratio of 32.64 and a beta of 1.16. The stock’s 50 day moving average price is $618.67 and its two-hundred day moving average price is $597.96. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 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 Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.50%.

About Martin Marietta Materials

(Free Report)

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.

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