Comerica Bank Decreases Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Comerica Bank cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,591 shares of the construction company’s stock after selling 204 shares during the quarter. Comerica Bank’s holdings in Martin Marietta Materials were worth $8,344,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth $26,000. Riverview Trust Co purchased a new position in shares of Martin Marietta Materials in the first quarter worth $26,000. Benjamin Edwards Inc. increased its stake in shares of Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after buying an additional 26 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of Martin Marietta Materials by 74.3% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after buying an additional 26 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Down 3.5 %

Martin Marietta Materials stock traded down $20.70 during mid-day trading on Friday, reaching $564.19. The stock had a trading volume of 124,060 shares, compared to its average volume of 435,796. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 3.16 and a beta of 0.91. The company has a 50-day moving average price of $555.96 and a two-hundred day moving average price of $566.58. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 EPS. On average, analysts expect that Martin Marietta Materials, Inc. will post 22.86 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.77%.

Analyst Ratings Changes

Several research analysts recently commented on MLM shares. Loop Capital decreased their target price on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Jefferies Financial Group lifted their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, Citigroup cut their price target on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and ten have issued a 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 price target of $628.91.

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.