Venturi Wealth Management LLC Lowers Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Venturi Wealth Management LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 17.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162 shares of the construction company’s stock after selling 34 shares during the period. Venturi Wealth Management LLC’s holdings in Martin Marietta Materials were worth $87,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GDS Wealth Management acquired a new position in Martin Marietta Materials during the third quarter valued at approximately $2,030,000. Diamond Hill Capital Management Inc. boosted its position in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after purchasing an additional 164,503 shares during the period. Baker Avenue Asset Management LP increased its holdings in Martin Marietta Materials by 31.7% in the 3rd quarter. Baker Avenue Asset Management LP now owns 2,916 shares of the construction company’s stock valued at $1,570,000 after purchasing an additional 702 shares in the last quarter. Covestor Ltd raised its position in Martin Marietta Materials by 84.3% in the third quarter. Covestor Ltd now owns 376 shares of the construction company’s stock valued at $203,000 after purchasing an additional 172 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its stake in shares of Martin Marietta Materials by 8.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 615 shares of the construction company’s stock worth $331,000 after purchasing an additional 46 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on MLM. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered their target price 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. Truist Financial cut their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. UBS Group started coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Finally, Citigroup cut 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Trading Down 2.9 %

Shares of NYSE MLM opened at $587.96 on Friday. Martin Marietta Materials, Inc. has a 1-year low of $451.37 and a 1-year high of $633.23. The company has a 50-day moving average of $554.32 and a two-hundred day moving average of $556.80. The company has a market cap of $35.93 billion, a PE ratio of 18.32, a P/E/G ratio of 4.05 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly 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 return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm earned $6.94 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. Martin Marietta Materials’s payout ratio is currently 9.85%.

Martin Marietta Materials 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.