Princeton Capital Management LLC Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Princeton Capital Management LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,227 shares of the construction company’s stock after selling 45 shares during the quarter. Princeton Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. grew its stake in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC boosted its holdings in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services bought a new position in Martin Marietta Materials in the 3rd quarter valued at $33,000. Fortitude Family Office LLC increased its stake in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 0.2 %

Shares of NYSE:MLM opened at $581.64 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52-week low of $451.37 and a 52-week high of $633.23. The stock has a market cap of $35.55 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 3.90 and a beta of 0.90. The business has a 50-day moving average price of $557.57 and a 200-day moving average price of $556.43.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) 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 return on equity of 12.53% and a net margin of 30.47%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the business earned $6.94 EPS. Equities analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Citigroup decreased their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Truist Financial lowered their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Stephens dropped their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

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.