Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Cut by Cable Hill Partners LLC

Cable Hill Partners LLC lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 699 shares of the construction company’s stock after selling 49 shares during the quarter. Cable Hill Partners LLC’s holdings in Martin Marietta Materials were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Schrum Private Wealth Management LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth approximately $331,000. Kovack Advisors Inc. bought a new position in shares of Martin Marietta Materials in the third quarter worth $734,000. Pinnacle Financial Partners Inc increased its holdings in shares of Martin Marietta Materials by 46.3% during the third quarter. Pinnacle Financial Partners Inc now owns 581 shares of the construction company’s stock valued at $313,000 after purchasing an additional 184 shares during the period. MQS Management LLC raised its stake in shares of Martin Marietta Materials by 5.7% during the third quarter. MQS Management LLC now owns 1,093 shares of the construction company’s stock valued at $588,000 after purchasing an additional 59 shares in the last quarter. Finally, Haverford Trust Co acquired a new stake in Martin Marietta Materials in the third quarter worth about $202,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the subject of a number of research analyst reports. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Truist Financial lowered their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group lowered their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Barclays boosted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Loop Capital raised their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $605.33 on Thursday. Martin Marietta Materials, Inc. has a 1-year low of $451.37 and a 1-year high of $633.23. The company has a market capitalization of $37.00 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 4.05 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $554.32 and its 200-day simple moving average is $556.80.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $6.94 EPS. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

About Martin Marietta Materials

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.