Hartford Investment Management Co. Lowers Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Hartford Investment Management Co. trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,767 shares of the construction company’s stock after selling 35 shares during the quarter. Hartford Investment Management Co.’s holdings in Martin Marietta Materials were worth $1,946,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Asset Dedication LLC increased its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services purchased a new position in Martin Marietta Materials in the third quarter valued at about $33,000. R Squared Ltd bought a new position in Martin Marietta Materials in the fourth quarter worth about $41,000. Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials in the fourth quarter worth about $41,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at about $49,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.8 %

MLM stock opened at $531.75 on Friday. The company has a market capitalization of $32.50 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $482.72 and a 12 month high of $633.23. The firm’s fifty day simple moving average is $536.78 and its 200-day simple moving average is $549.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MLM shares. BNP Paribas lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley cut their price target on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday. Citigroup dropped their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target for the company in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Profile

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.