Chilton Investment Co. Inc. Has $11.76 Million Stock Holdings in Martin Marietta Materials, Inc. $MLM

Chilton Investment Co. Inc. boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3,645.4% in the third quarter, Holdings Channel reports. The firm owned 18,652 shares of the construction company’s stock after purchasing an additional 18,154 shares during the quarter. Chilton Investment Co. Inc.’s holdings in Martin Marietta Materials were worth $11,756,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after buying an additional 565,856 shares in the last quarter. Norges Bank acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at $233,811,000. Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after buying an additional 192,637 shares in the last quarter. Freestone Grove Partners LP grew its position in Martin Marietta Materials by 748.5% in the third quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock valued at $78,762,000 after acquiring an additional 110,236 shares during the period. Finally, Vanguard Group Inc. grew its position in Martin Marietta Materials by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after acquiring an additional 93,595 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on MLM shares. Zacks Research cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Wells Fargo & Company lowered their target price on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Loop Capital cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a research report on Wednesday, January 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $630.00 price target on shares of Martin Marietta Materials in a report on Thursday, February 26th. Finally, Truist Financial set a $710.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $696.88.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $584.08 on Friday. 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 firm has a market cap of $35.23 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.30 and a beta of 1.13. The business’s fifty day moving average is $654.23 and its two-hundred day moving average is $632.62. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $710.97.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $4.79 EPS. Martin Marietta Materials’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 17.66%.

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.