Portside Wealth Group LLC Sells 40 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Portside Wealth Group LLC lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 411 shares of the construction company’s stock after selling 40 shares during the period. Portside Wealth Group LLC’s holdings in Martin Marietta Materials were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Castle Wealth Management LLC bought a new position in Martin Marietta Materials in the 3rd quarter valued at $552,000. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares in the last quarter. Malaga Cove Capital LLC bought a new stake in Martin Marietta Materials during the third quarter valued at $304,000. Graypoint LLC grew its position in Martin Marietta Materials by 2.9% during the third quarter. Graypoint LLC now owns 1,501 shares of the construction company’s stock worth $808,000 after buying an additional 43 shares in the last quarter. Finally, Forte Capital LLC ADV bought a new position in Martin Marietta Materials in the 3rd quarter worth about $557,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.4 %

Shares of MLM stock opened at $619.58 on Friday. The business has a 50-day moving average of $549.06 and a 200 day moving average of $556.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 1-year low of $448.73 and a 1-year high of $633.23. The stock has a market capitalization of $37.87 billion, a PE ratio of 19.31, a P/E/G ratio of 4.12 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data 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 net margin of 30.47% and a return on equity of 12.53%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company posted $6.94 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. decreased 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 report on Wednesday, October 9th. Truist Financial dropped 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 report on Friday, August 9th. Finally, Jefferies Financial Group cut their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $634.85.

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.