Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,492 shares of the construction company’s stock after selling 805 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Martin Marietta Materials were worth $2,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC grew its holdings in shares of Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the last quarter. Mather Group LLC. grew its stake in Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after buying an additional 20 shares during the last quarter. TFG Advisers LLC increased its position in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after buying an additional 20 shares during the period. Meiji Yasuda Life Insurance Co lifted its stake in Martin Marietta Materials by 3.0% in the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after buying an additional 20 shares during the last quarter. Finally, Pitcairn Co. boosted its holdings in shares of Martin Marietta Materials by 5.0% during the first quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.6 %

Martin Marietta Materials stock opened at $534.98 on Wednesday. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The firm’s 50 day moving average price is $537.75 and its two-hundred day moving average price is $563.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86.

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

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.59%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.36%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Jefferies Financial Group boosted their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Stephens lowered their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Citigroup reduced their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Truist Financial lowered their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $629.82.

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.