Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,551 shares of the construction company’s stock after selling 93 shares during the quarter. Profund Advisors LLC’s holdings in Martin Marietta Materials were worth $840,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Global Assets Advisory LLC acquired a new position in Martin Marietta Materials in the first quarter worth $22,265,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Martin Marietta Materials by 25.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock valued at $4,272,000 after buying an additional 1,728 shares during the period. Brevan Howard Capital Management LP grew its position in shares of Martin Marietta Materials by 49.7% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after buying an additional 1,882 shares during the last quarter. Vanguard Group Inc. raised its stake in Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Martin Marietta Materials by 182.5% in the first quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock worth $44,901,000 after acquiring an additional 47,250 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.7 %

MLM stock opened at $535.92 on Wednesday. The firm’s 50-day moving average is $539.79 and its two-hundred day moving average is $565.78. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $33.03 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $5.60 earnings per share. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.59%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MLM. Loop Capital lowered their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Citigroup dropped their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Stephens dropped their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Stifel Nicolaus reduced their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $629.82.

Martin Marietta Materials Company 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.