Oppenheimer & Co. Inc. Has $11.60 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Oppenheimer & Co. Inc. trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,401 shares of the construction company’s stock after selling 1,432 shares during the period. Oppenheimer & Co. Inc.’s holdings in Martin Marietta Materials were worth $11,595,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MLM. Ameritas Advisory Services LLC raised its stake in shares of Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after buying an additional 18 shares during the last quarter. Mather Group LLC. raised its stake in shares of Martin Marietta Materials by 13.6% during the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after buying an additional 20 shares during the last quarter. TFG Advisers LLC raised its stake in shares of Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after buying an additional 20 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Martin Marietta Materials by 1.8% during the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after buying an additional 21 shares during the last quarter. Finally, Pitcairn Co. raised its stake in shares of Martin Marietta Materials by 5.0% during the first quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock worth $271,000 after buying an additional 21 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Loop Capital dropped their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Truist Financial dropped 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 research note on Friday, August 9th. Stephens dropped their price target on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upped their target price on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Stock Up 1.5 %

Shares of MLM stock opened at $515.33 on Friday. The firm has a fifty day moving average of $541.64 and a 200-day moving average of $568.85. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The company has a market capitalization of $31.50 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 3.52 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (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 company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company earned $5.60 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.61%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

About Martin Marietta Materials

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.