Martin Marietta Materials, Inc. $MLM Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,934,783 shares of the construction company’s stock after selling 20,356 shares during the quarter. JPMorgan Chase & Co. owned 4.87% of Martin Marietta Materials worth $1,849,736,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MLM. Schear Investment Advisers LLC increased its position in shares of Martin Marietta Materials by 0.6% in the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after buying an additional 16 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Martin Marietta Materials by 10.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after acquiring an additional 17 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in Martin Marietta Materials by 3.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock valued at $283,000 after acquiring an additional 17 shares in the last quarter. Ritholtz Wealth Management raised its position in Martin Marietta Materials by 2.9% during the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock worth $407,000 after acquiring an additional 18 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its position in Martin Marietta Materials by 1.9% during the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock worth $533,000 after acquiring an additional 18 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MLM. Truist Financial set a $710.00 price target on shares of Martin Marietta Materials in a research report on Thursday. Stephens reduced their target price on Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating on the stock in a research note on Friday. DA Davidson set a $680.00 target price on Martin Marietta Materials in a report on Thursday. Wells Fargo & Company cut their price target on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $689.69.

Martin Marietta Materials Stock Up 2.9%

MLM stock opened at $679.34 on Tuesday. The company has a 50 day moving average price of $647.75 and a two-hundred day moving average price of $627.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57. The stock has a market capitalization of $40.97 billion, a P/E ratio of 36.13, a PEG ratio of 2.54 and a beta of 1.16. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.79 EPS. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

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.