Salem Investment Counselors Inc. Reduces Position in Martin Marietta Materials, Inc. $MLM

Salem Investment Counselors Inc. trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,438 shares of the construction company’s stock after selling 905 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Martin Marietta Materials were worth $4,631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Schear Investment Advisers LLC lifted its holdings in Martin Marietta Materials by 0.6% in the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after acquiring an additional 16 shares during the last quarter. Daymark Wealth Partners LLC grew its position in Martin Marietta Materials by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock worth $283,000 after acquiring an additional 17 shares during the period. Ritholtz Wealth Management increased its stake in Martin Marietta Materials by 2.9% during the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock worth $407,000 after acquiring an additional 18 shares during the last quarter. Vise Technologies Inc. increased its stake in Martin Marietta Materials by 2.5% during the third quarter. Vise Technologies Inc. now owns 731 shares of the construction company’s stock worth $461,000 after acquiring an additional 18 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its position in Martin Marietta Materials by 1.9% in the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock valued at $533,000 after purchasing an additional 18 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Truist Financial set a $710.00 target price on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Zacks Research cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $630.00 price target on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Wells Fargo & Company decreased their price objective on shares of Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Finally, Citigroup increased their price objective on shares of Martin Marietta Materials from $780.00 to $804.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $696.88.

Martin Marietta Materials Stock Up 3.1%

Shares of NYSE:MLM opened at $578.22 on Tuesday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The firm’s 50 day moving average price is $645.49 and its 200 day moving average price is $631.00. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The stock has a market cap of $34.87 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 2.20 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $4.79 EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.