First Citizens Bank & Trust Co. Sells 301 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

First Citizens Bank & Trust Co. lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 24.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 933 shares of the construction company’s stock after selling 301 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Martin Marietta Materials were worth $502,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MLM. Los Angeles Capital Management LLC grew its stake in shares of Martin Marietta Materials by 244.9% in the first quarter. Los Angeles Capital Management LLC now owns 1,652 shares of the construction company’s stock worth $1,014,000 after purchasing an additional 1,173 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Martin Marietta Materials in the first quarter worth $90,000. Park Avenue Securities LLC grew its stake in shares of Martin Marietta Materials by 8.5% in the first quarter. Park Avenue Securities LLC now owns 2,350 shares of the construction company’s stock worth $1,443,000 after purchasing an additional 184 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Martin Marietta Materials by 2.4% in the first quarter. Ballentine Partners LLC now owns 1,257 shares of the construction company’s stock worth $772,000 after purchasing an additional 29 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of Martin Marietta Materials in the first quarter worth $22,265,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $581.00 on Monday. The firm’s 50-day moving average price is $533.00 and its 200-day moving average price is $557.67. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The firm has a market capitalization of $35.81 billion, a P/E ratio of 17.21, a P/E/G ratio of 3.68 and a beta of 0.91. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45.

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

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

MLM has been the topic of several analyst reports. Citigroup reduced their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. cut their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Stephens cut their price target on shares of 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. Finally, Stifel Nicolaus cut their price target on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $619.36.

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.