Valeo Financial Advisors LLC Sells 29 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Valeo Financial Advisors LLC trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 818 shares of the construction company’s stock after selling 29 shares during the period. Valeo Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $440,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after buying an additional 523,038 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after purchasing an additional 106,002 shares in the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 69,701 shares during the period. M&G Plc bought a new stake in Martin Marietta Materials in the first quarter worth approximately $41,142,000. Finally, Interval Partners LP lifted its stake in Martin Marietta Materials by 117.4% in the first quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock valued at $58,822,000 after buying an additional 51,749 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $552.93 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $34.08 billion, a PE ratio of 16.38, a PEG ratio of 3.68 and a beta of 0.91. The stock’s 50 day moving average price is $530.37 and its 200-day moving average price is $558.68. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month 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 company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.60 earnings per share. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective 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. StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Loop Capital lowered their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $619.36.

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.