American Century Companies Inc. Sells 1,754 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

American Century Companies Inc. decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,684 shares of the construction company’s stock after selling 1,754 shares during the period. American Century Companies Inc.’s holdings in Martin Marietta Materials were worth $11,207,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $31,000. Fortitude Family Office LLC boosted its stake in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.4 %

Shares of NYSE MLM opened at $546.29 on Monday. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The firm has a market capitalization of $33.67 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. The firm has a fifty day simple moving average of $540.85 and a two-hundred day simple moving average of $566.68.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $5.60 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts expect that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.79 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. Citigroup cut 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 note on Monday, August 12th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Jefferies Financial Group increased their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus dropped their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Morgan Stanley increased their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $629.82.

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.