Franklin Street Advisors Inc. NC Reduces Stake in Martin Marietta Materials, Inc. $MLM

Franklin Street Advisors Inc. NC lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 26.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,038 shares of the construction company’s stock after selling 10,902 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Martin Marietta Materials were worth $17,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Optima Capital LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter worth about $25,000. Meeder Asset Management Inc. boosted its position in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after acquiring an additional 19 shares during the period. CoreCap Advisors LLC grew its stake in Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $31,000. Finally, Reflection Asset Management bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.0%

Shares of MLM opened at $548.50 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $523.48 and a 1-year high of $710.97. The company has a market capitalization of $32.95 billion, a P/E ratio of 13.48, a P/E/G ratio of 2.35 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $575.90 and its 200 day simple moving average is $603.24.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.43 EPS. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.25 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is currently 8.16%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MLM shares. Stephens lowered their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Wells Fargo & Company decreased their price target on shares of Martin Marietta Materials from $616.00 to $581.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Citigroup lowered their price objective on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Oppenheimer initiated coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They set a “market perform” rating for the company. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $670.00.

Martin Marietta Materials Company 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.