Pathstone Holdings LLC Has $11.11 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Pathstone Holdings LLC decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,637 shares of the construction company’s stock after selling 552 shares during the period. Pathstone Holdings LLC’s holdings in Martin Marietta Materials were worth $11,108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MLM. Newbridge Financial Services Group Inc. increased its holdings in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC increased its holdings in shares of Martin Marietta Materials by 1,300.0% during the 3rd 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 last quarter. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at approximately $33,000. Fortitude Family Office LLC grew its holdings in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after buying an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MLM. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Morgan Stanley raised their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Loop Capital raised their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial lowered their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Trading Up 0.4 %

Shares of MLM opened at $585.26 on Thursday. The stock has a fifty day moving average price of $560.58 and a two-hundred day moving average price of $556.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a 52-week low of $456.83 and a 52-week high of $633.23. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 3.90 and a beta of 0.90.

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

Martin Marietta Materials Announces Dividend

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