Accretive Wealth Partners LLC Trims Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Accretive Wealth Partners LLC cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,290 shares of the construction company’s stock after selling 18 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Martin Marietta Materials were worth $1,233,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. grew its holdings in Martin Marietta Materials by 5.6% in the third quarter. Raymond James Trust N.A. now owns 1,724 shares of the construction company’s stock valued at $928,000 after purchasing an additional 91 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Martin Marietta Materials by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 382,919 shares of the construction company’s stock worth $206,106,000 after buying an additional 2,237 shares during the period. Banco Santander S.A. purchased a new stake in Martin Marietta Materials during the third quarter valued at about $257,000. Intech Investment Management LLC grew its position in Martin Marietta Materials by 9.6% during the third quarter. Intech Investment Management LLC now owns 4,120 shares of the construction company’s stock valued at $2,218,000 after acquiring an additional 361 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Martin Marietta Materials by 5.3% during the third quarter. Advisors Asset Management Inc. now owns 24,995 shares of the construction company’s stock worth $13,454,000 after acquiring an additional 1,253 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 1.1 %

Shares of Martin Marietta Materials stock opened at $591.87 on Friday. The business has a 50-day moving average price of $562.13 and a 200 day moving average price of $556.52. Martin Marietta Materials, Inc. has a fifty-two week low of $456.83 and a fifty-two week high of $633.23. The firm has a market cap of $36.18 billion, a P/E ratio of 18.44, a P/E/G 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 (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). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.94 earnings per share. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 9.85%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. Morgan Stanley boosted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Citigroup dropped their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Truist Financial cut their target price on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials 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.