Thrivent Financial for Lutherans Sells 8,042 Shares of Martin Marietta Materials, Inc. $MLM

Thrivent Financial for Lutherans cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 29.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,477 shares of the construction company’s stock after selling 8,042 shares during the period. Thrivent Financial for Lutherans’ holdings in Martin Marietta Materials were worth $10,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new stake in shares of Martin Marietta Materials during the second quarter worth $428,000. Advisory Services Network LLC increased its position in Martin Marietta Materials by 15.1% during the second quarter. Advisory Services Network LLC now owns 1,908 shares of the construction company’s stock worth $1,097,000 after acquiring an additional 251 shares during the period. State of Wyoming raised its stake in Martin Marietta Materials by 550.7% in the 2nd quarter. State of Wyoming now owns 1,347 shares of the construction company’s stock worth $739,000 after purchasing an additional 1,140 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Martin Marietta Materials by 81.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 467 shares of the construction company’s stock valued at $256,000 after purchasing an additional 210 shares during the period. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Martin Marietta Materials during the 2nd quarter worth approximately $89,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MLM shares. Wells Fargo & Company dropped their price target on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research report on Wednesday, October 8th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Morgan Stanley boosted their price target on Martin Marietta Materials from $610.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $650.31.

Martin Marietta Materials Trading Down 1.6%

Shares of MLM stock opened at $619.17 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $665.18. The stock’s fifty day moving average price is $618.67 and its two-hundred day moving average price is $597.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97. The company has a market cap of $37.34 billion, a PE ratio of 32.64 and a beta of 1.16.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Tuesday, November 4th. The construction company reported $5.97 EPS for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio is currently 17.50%.

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.