MAI Capital Management Cuts Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

MAI Capital Management trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,721 shares of the construction company’s stock after selling 94 shares during the period. MAI Capital Management’s holdings in Martin Marietta Materials were worth $1,465,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its stake in Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC grew its stake in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. First Personal Financial Services purchased a new position in Martin Marietta Materials during the third quarter valued at $33,000. Fortitude Family Office LLC grew its stake in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter worth $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MLM shares. Stephens lowered their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Jefferies Financial Group lowered their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. UBS Group started coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Morgan Stanley lifted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Up 0.4 %

Shares of Martin Marietta Materials stock opened at $585.26 on Thursday. The firm’s 50 day moving average price is $560.58 and its 200-day moving average price is $556.31. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52-week low of $456.83 and a 52-week high of $633.23. The company has a market cap of $35.77 billion, a P/E ratio of 18.24, a PEG ratio of 3.90 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm earned $6.94 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.