London Co. of Virginia Sells 3,624 Shares of Martin Marietta Materials, Inc. $MLM

London Co. of Virginia cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 170,480 shares of the construction company’s stock after selling 3,624 shares during the period. London Co. of Virginia’s holdings in Martin Marietta Materials were worth $106,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Captrust Financial Advisors boosted its stake in shares of Martin Marietta Materials by 14.7% during the fourth quarter. Captrust Financial Advisors now owns 33,309 shares of the construction company’s stock valued at $20,740,000 after purchasing an additional 4,267 shares in the last quarter. &PARTNERS boosted its stake in Martin Marietta Materials by 15.3% in the fourth quarter. &PARTNERS now owns 4,469 shares of the construction company’s stock valued at $2,783,000 after acquiring an additional 594 shares in the last quarter. Blair William & Co. IL boosted its stake in Martin Marietta Materials by 48.1% in the fourth quarter. Blair William & Co. IL now owns 14,463 shares of the construction company’s stock valued at $9,006,000 after acquiring an additional 4,696 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $2,356,000. Finally, Camrose Capital Investment Partners LLP boosted its stake in Martin Marietta Materials by 18.8% in the fourth quarter. Camrose Capital Investment Partners LLP now owns 113,634 shares of the construction company’s stock valued at $70,755,000 after acquiring an additional 18,015 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings downgraded shares of Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Citigroup lowered their target price on shares of Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Finally, Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Price Performance

NYSE MLM opened at $602.95 on Wednesday. The company has a market cap of $36.21 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The stock’s fifty day moving average price is $589.40 and its 200 day moving average price is $618.63. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.41 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be paid a $0.83 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

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.