Signaturefd LLC Reduces Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Signaturefd LLC lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 814 shares of the construction company’s stock after selling 63 shares during the quarter. Signaturefd LLC’s holdings in Martin Marietta Materials were worth $438,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Martin Marietta Materials by 18.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,722 shares of the construction company’s stock valued at $3,513,000 after acquiring an additional 881 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in Martin Marietta Materials in the first quarter valued at $1,652,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Martin Marietta Materials by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 148,571 shares of the construction company’s stock valued at $91,214,000 after acquiring an additional 682 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Martin Marietta Materials by 0.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 7,152 shares of the construction company’s stock valued at $4,391,000 after acquiring an additional 39 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Martin Marietta Materials by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 6,704 shares of the construction company’s stock valued at $4,115,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.1 %

Shares of Martin Marietta Materials stock opened at $570.21 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The stock has a market cap of $35.15 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. The company has a 50-day moving average of $536.79 and a two-hundred day moving average of $556.84.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the business posted $5.60 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.55%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MLM. Jefferies Financial Group decreased 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 research note on Wednesday, October 9th. Loop Capital decreased their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Stifel Nicolaus decreased their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Truist Financial decreased their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $619.36.

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.