Martin Marietta Materials, Inc. $MLM Stock Sold by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 97.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 443 shares of the construction company’s stock after selling 16,054 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nvwm LLC grew its stake in Martin Marietta Materials by 4.9% during the 3rd quarter. Nvwm LLC now owns 1,806 shares of the construction company’s stock worth $867,000 after buying an additional 84 shares during the last quarter. Mather Group LLC. lifted its stake in Martin Marietta Materials by 8.7% in the third quarter. Mather Group LLC. now owns 1,219 shares of the construction company’s stock valued at $585,000 after buying an additional 98 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in Martin Marietta Materials by 429.7% in the third quarter. First Citizens Bank & Trust Co. now owns 2,320 shares of the construction company’s stock valued at $1,113,000 after buying an additional 1,882 shares during the last quarter. Sax Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $220,000. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of Martin Marietta Materials by 0.7% in the third quarter. NorthCrest Asset Manangement LLC now owns 22,831 shares of the construction company’s stock valued at $10,995,000 after acquiring an additional 156 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

NYSE MLM traded up $8.74 during trading hours on Friday, hitting $499.97. 963,195 shares of the stock were exchanged, compared to its average volume of 845,432. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.28 and a beta of 1.08. The stock has a 50-day moving average of $507.17 and a 200 day moving average of $557.18. Martin Marietta Materials, Inc. has a 12-month low of $464.92 and a 12-month high of $710.97. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the business earned $5.43 earnings per share. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 18.17 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a $0.84 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. Martin Marietta Materials’s payout ratio is currently 8.26%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MLM. Raymond James Financial decreased their price target on shares of Martin Marietta Materials from $660.00 to $640.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial dropped their price objective on shares of Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. UBS Group reduced their target price on shares of Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Weiss Ratings downgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $642.65.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.