Dana Investment Advisors Inc. Sells 378 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Dana Investment Advisors Inc. lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 16.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,959 shares of the construction company’s stock after selling 378 shares during the period. Dana Investment Advisors Inc.’s holdings in Martin Marietta Materials were worth $1,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLM. Riverview Trust Co bought a new stake in Martin Marietta Materials during the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Martin Marietta Materials in the 4th quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the first quarter valued at about $31,000. Fortitude Family Office LLC raised its holdings in shares of Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Martin Marietta Materials during the first quarter valued at about $41,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $521.23 on Friday. The firm has a market capitalization of $32.13 billion, a PE ratio of 15.44, a P/E/G ratio of 3.78 and a beta of 0.91. 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 50-day moving average price of $536.29 and a two-hundred day moving average price of $562.95. 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 quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $5.60 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.79 dividend. The ex-dividend date was Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 annualized dividend and a dividend yield of 0.61%. Martin Marietta Materials’s payout ratio is 9.36%.

Wall Street Analyst Weigh In

Several research firms have commented on MLM. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Citigroup reduced their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus reduced their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.