Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Wedmont Private Capital

Wedmont Private Capital trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 497 shares of the construction company’s stock after selling 99 shares during the quarter. Wedmont Private Capital’s holdings in Martin Marietta Materials were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MLM. CWM LLC increased its stake in Martin Marietta Materials by 7.0% in the third quarter. CWM LLC now owns 1,749 shares of the construction company’s stock valued at $942,000 after purchasing an additional 114 shares during the last quarter. Strategic Wealth Partners Ltd. increased its stake in Martin Marietta Materials by 72.9% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,757 shares of the construction company’s stock valued at $946,000 after purchasing an additional 741 shares during the last quarter. Brookstone Capital Management increased its stake in Martin Marietta Materials by 7.2% in the third quarter. Brookstone Capital Management now owns 1,123 shares of the construction company’s stock valued at $604,000 after purchasing an additional 75 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in Martin Marietta Materials in the third quarter valued at $373,000. Finally, Dynamic Advisor Solutions LLC increased its stake in Martin Marietta Materials by 26.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 543 shares of the construction company’s stock valued at $292,000 after purchasing an additional 112 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MLM. Morgan Stanley upped their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $619.36.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $544.90 on Monday. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The business has a 50-day moving average of $530.36 and a 200-day moving average of $559.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The company has a market capitalization of $33.59 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 3.68 and a beta of 0.91.

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

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is currently 9.36%.

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.