Martin Marietta Materials, Inc. $MLM Position Decreased by Weaver Capital Management LLC

Weaver Capital Management LLC reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 37.0% during the third quarter, HoldingsChannel reports. The firm owned 2,280 shares of the construction company’s stock after selling 1,340 shares during the period. Weaver Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,094,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MLM. Nvwm LLC grew its stake in Martin Marietta Materials by 4.9% in the 3rd quarter. Nvwm LLC now owns 1,806 shares of the construction company’s stock worth $867,000 after buying an additional 84 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Martin Marietta Materials by 8.7% in the 3rd quarter. Mather Group LLC. now owns 1,219 shares of the construction company’s stock worth $585,000 after buying an additional 98 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Martin Marietta Materials by 429.7% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,320 shares of the construction company’s stock valued at $1,113,000 after buying an additional 1,882 shares in the last quarter. Sax Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter valued at $220,000. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Martin Marietta Materials by 0.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 22,831 shares of the construction company’s stock valued at $10,995,000 after buying an additional 156 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Up 4.5%

MLM stock opened at $492.17 on Friday. The company has a market capitalization of $29.56 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41. Martin Marietta Materials, Inc. has a one year low of $464.92 and a one year high of $710.97. The company’s 50 day moving average price is $508.14 and its two-hundred day moving average price is $557.58.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $5.43 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. As a group, analysts predict that Martin Marietta Materials, Inc. will post 17.77 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 Wednesday, September 30th. Investors of record on Tuesday, September 1st were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is 8.26%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research analyst reports. Truist Financial dropped their price objective on shares of Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating for the company in a report on Monday, October 5th. Citigroup reduced their target price on Martin Marietta Materials from $690.00 to $610.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Morgan Stanley reduced their target price on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Sanford C. Bernstein downgraded Martin Marietta Materials to an “underweight” rating in a research report on Wednesday, September 2nd. Finally, UBS Group dropped their price target on Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $644.71.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.