Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,526 shares of the construction company’s stock after selling 248 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Martin Marietta Materials were worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 411.1% in 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 period. Asset Dedication LLC boosted its position in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services bought a new position in shares of Martin Marietta Materials in the third quarter worth $33,000. Fortitude Family Office LLC increased its holdings in shares of Martin Marietta Materials by 186.4% during 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 period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials during the first quarter valued at about $41,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 1.1 %

NYSE:MLM opened at $591.87 on Friday. The business’s fifty day moving average price is $562.13 and its 200 day moving average price is $556.52. The firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.89 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results 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). The business 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%. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.94 EPS. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Analyst Ratings Changes

MLM has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group reduced their price objective 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. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, Loop Capital raised their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.