Bartlett & CO. Wealth Management LLC Lowers Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Bartlett & CO. Wealth Management LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,317 shares of the construction company’s stock after selling 417 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Martin Marietta Materials were worth $1,247,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MLM. Blue Trust Inc. boosted its holdings in shares of Martin Marietta Materials by 223.0% in the 3rd quarter. Blue Trust Inc. now owns 646 shares of the construction company’s stock valued at $350,000 after purchasing an additional 446 shares during the last quarter. Net Worth Advisory Group purchased a new position in shares of Martin Marietta Materials in the 3rd quarter worth about $511,000. V Square Quantitative Management LLC lifted its stake in shares of Martin Marietta Materials by 17.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,239 shares of the construction company’s stock valued at $667,000 after purchasing an additional 182 shares in the last quarter. CHB Investment Group LLC purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter worth about $2,585,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Martin Marietta Materials by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,602 shares of the construction company’s stock valued at $3,554,000 after buying an additional 62 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MLM shares. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Truist Financial cut their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Loop Capital reduced their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Jefferies Financial Group lowered their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $619.36.

Martin Marietta Materials Trading Up 1.3 %

Shares of MLM stock opened at $581.00 on Friday. The stock has a 50-day simple moving average of $533.00 and a 200 day simple moving average of $558.04. The stock has a market capitalization of $35.81 billion, a P/E ratio of 17.21, a P/E/G ratio of 3.68 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.60 EPS. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

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.