Weaver Capital Management LLC Trims Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Weaver Capital Management LLC lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 11.7% during the 2nd quarter, Holdings Channel reports. The firm owned 3,816 shares of the construction company’s stock after selling 505 shares during the quarter. Weaver Capital Management LLC’s holdings in Martin Marietta Materials were worth $2,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MLM. Oregon Public Employees Retirement Fund lifted its stake in shares of Martin Marietta Materials by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 5,298 shares of the construction company’s stock valued at $2,870,000 after buying an additional 22 shares during the period. Chilton Capital Management LLC increased its position in Martin Marietta Materials by 6,950.0% during the second quarter. Chilton Capital Management LLC now owns 141 shares of the construction company’s stock worth $76,000 after purchasing an additional 139 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in Martin Marietta Materials during the second quarter worth approximately $5,418,000. D.A. Davidson & CO. increased its position in Martin Marietta Materials by 11.0% during the second quarter. D.A. Davidson & CO. now owns 11,922 shares of the construction company’s stock worth $6,459,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Martin Marietta Materials during the second quarter worth approximately $248,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 2.6 %

NYSE MLM opened at $519.45 on Wednesday. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 3.57 and a beta of 0.91. The company’s fifty day moving average price is $545.50 and its two-hundred day moving average price is $570.87.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $5.60 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 20.01 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.61%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is 8.77%.

Analysts Set New Price Targets

Several equities analysts recently commented on MLM shares. Stifel Nicolaus dropped 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. Stephens dropped their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Citigroup dropped their price objective on shares of 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 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.