Truist Financial Corp Has $15.72 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Truist Financial Corp trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 70.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,442 shares of the construction company’s stock after selling 73,656 shares during the quarter. Truist Financial Corp’s holdings in Martin Marietta Materials were worth $15,723,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its holdings in Martin Marietta Materials by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock worth $421,000 after purchasing an additional 19 shares during the period. iA Global Asset Management Inc. grew its holdings in shares of Martin Marietta Materials by 3.6% during the third quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after buying an additional 20 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Martin Marietta Materials by 4.7% during the fourth quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after buying an additional 20 shares during the last quarter. Financial Counselors Inc. grew its holdings in shares of Martin Marietta Materials by 1.9% during the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after buying an additional 21 shares during the last quarter. Finally, OLD National Bancorp IN grew its holdings in shares of Martin Marietta Materials by 4.5% during the fourth quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $521.65 on Thursday. The company’s 50 day moving average is $532.38 and its 200-day moving average is $547.79. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $31.88 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 4.61 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.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.61 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MLM shares. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Loop Capital cut their price target on shares of Martin Marietta Materials from $680.00 to $645.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Truist Financial cut their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Finally, Barclays cut their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Company 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.