Janney Montgomery Scott LLC Sells 18,245 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Janney Montgomery Scott LLC lowered its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 65.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,758 shares of the construction company’s stock after selling 18,245 shares during the period. Janney Montgomery Scott LLC’s holdings in Martin Marietta Materials were worth $5,253,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its stake in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC boosted its position in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. Fortitude Family Office LLC grew its stake in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Martin Marietta Materials during the 1st quarter worth approximately $41,000. Finally, Rothschild Investment LLC bought a new stake in Martin Marietta Materials during the 2nd quarter worth approximately $43,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stephens lowered their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $619.58 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market cap of $37.87 billion, a PE ratio of 19.31, a PEG ratio of 4.12 and a beta of 0.90. The company’s fifty day moving average is $549.06 and its 200 day moving average is $556.56. Martin Marietta Materials, Inc. has a 52 week low of $448.73 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm posted $6.94 EPS. The company’s revenue was down 5.3% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

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.