Beck Capital Management LLC Sells 79 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Beck Capital Management LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% in the third quarter, Holdings Channel reports. The firm owned 3,742 shares of the construction company’s stock after selling 79 shares during the quarter. Beck Capital Management LLC’s holdings in Martin Marietta Materials were worth $2,014,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC grew its stake in shares of Martin Marietta Materials by 2.8% in the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after buying an additional 18 shares in the last quarter. Inspire Investing LLC lifted its stake in Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after acquiring an additional 19 shares during the last quarter. Mather Group LLC. grew its position in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after acquiring an additional 20 shares during the period. TFG Advisers LLC increased its stake in shares of Martin Marietta Materials by 3.7% during the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after purchasing an additional 20 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its holdings in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $600.00 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 4.07 and a beta of 0.90. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The firm’s 50-day simple moving average is $571.19 and its 200 day simple moving average is $555.83.

Martin Marietta Materials (NYSE:MLM) last released 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). The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.94 earnings per share. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of research analyst reports. Loop Capital lifted their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup reduced their target price on 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. Stephens decreased their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group cut their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, UBS Group assumed coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $644.46.

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.