American International Group Inc. Buys 341 Shares of Martin Marietta Materials, Inc. (NYSE:MLM) (2024)

Posted by MarketBeat News on Jun 20th, 2024

American International Group Inc. grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 16,694 shares of the construction company’s stock after purchasing an additional 341 shares during the period. American International Group Inc.’s holdings in Martin Marietta Materials were worth $8,329,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Martin Marietta Materials by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after purchasing an additional 181,136 shares in the last quarter. Norges Bank bought a new stake in Martin Marietta Materials during the fourth quarter worth $308,705,000. Northern Trust Corp lifted its holdings in Martin Marietta Materials by 3.8% during the third quarter. Northern Trust Corp now owns 615,467 shares of the construction company’s stock worth $252,637,000 after acquiring an additional 22,391 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Martin Marietta Materials by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,396 shares of the construction company’s stock worth $307,026,000 after acquiring an additional 27,775 shares during the period. Finally, Invesco Ltd. lifted its holdings in Martin Marietta Materials by 22.6% during the third quarter. Invesco Ltd. now owns 570,193 shares of the construction company’s stock worth $234,053,000 after acquiring an additional 104,981 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 2.7 %

MLM stock opened at $558.62 on Thursday. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $34.43 billion, a PE ratio of 16.55, a PEG ratio of 2.52 and a beta of 0.93. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The stock has a 50-day simple moving average of $581.85 and a two-hundred day simple moving average of $553.19.

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Martin Marietta Materials (NYSE:MLM – Get Free Report) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 23.29 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MLM. Truist Financial lifted their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Citigroup increased their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $610.27.

Get Our Latest Stock Analysis on Martin Marietta Materials

Martin Marietta Materials Profile

(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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