Martin Marietta Materials, Inc. $MLM Stock: Ethic Inc. Trims Stake

Ethic Inc. decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,729 shares of the construction company’s stock after selling 1,038 shares during the period. Ethic Inc.’s holdings in Martin Marietta Materials were worth $5,148,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MLM. StoneX Group Inc. bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $490,000. Kornitzer Capital Management Inc. KS raised its position in shares of Martin Marietta Materials by 7.9% during the third quarter. Kornitzer Capital Management Inc. KS now owns 31,830 shares of the construction company’s stock valued at $15,272,000 after buying an additional 2,339 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Martin Marietta Materials by 24.9% during the 3rd quarter. Pictet Asset Management Holding SA now owns 102,581 shares of the construction company’s stock valued at $49,219,000 after buying an additional 20,445 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Martin Marietta Materials by 17.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,510 shares of the construction company’s stock valued at $725,000 after acquiring an additional 219 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its holdings in shares of Martin Marietta Materials by 26.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 793 shares of the construction company’s stock valued at $381,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $530.17 on Tuesday. The stock has a market cap of $31.85 billion, a P/E ratio of 34.25, a PEG ratio of 2.89 and a beta of 1.02. The company has a current ratio of 1.63, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $502.99 and a 200 day moving average price of $572.87. Martin Marietta Materials, Inc. has a 12-month low of $464.92 and a 12-month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 earnings per share for the quarter, missing the consensus estimate of $5.99 by ($0.52). The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Martin Marietta Materials had a return on equity of 7.96% and a net margin of 31.88%. The company’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.85 earnings per share. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 16.58 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a $0.84 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 8.89%.

Analyst Ratings Changes

A number of brokerages have issued reports on MLM. BNP Paribas Exane decreased their price objective on Martin Marietta Materials from $590.00 to $565.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 16th. Stephens cut their price target on Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. UBS Group cut their price objective on shares of Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Wells Fargo & Company increased their price objective on shares of Martin Marietta Materials from $579.00 to $589.00 and gave the company an “overweight” rating in a research report on Thursday, November 5th. Finally, Stifel Nicolaus lowered their price objective on Martin Marietta Materials from $634.00 to $629.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Fifteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $642.60.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt.

The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States.

Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.