Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Nwam LLC

Nwam LLC decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,404 shares of the construction company’s stock after selling 56 shares during the period. Nwam LLC’s holdings in Martin Marietta Materials were worth $3,447,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after purchasing an additional 523,038 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after purchasing an additional 164,503 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Martin Marietta Materials by 247.5% in the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after buying an additional 106,002 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Martin Marietta Materials by 682.5% in the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock valued at $40,393,000 after buying an additional 65,454 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

MLM stock opened at $591.74 on Friday. The company has a 50-day simple moving average of $563.67 and a 200 day simple moving average of $556.76. The company has a market capitalization of $36.17 billion, a P/E ratio of 18.44, a PEG ratio of 3.89 and a beta of 0.90. 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 fifty-two week low of $456.83 and a fifty-two week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $6.94 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analysts Forecast Growth

MLM has been the subject of several research reports. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday. Stephens decreased their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Citigroup dropped their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Truist Financial decreased their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Barclays raised 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. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

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.