Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 17.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295 shares of the construction company’s stock after selling 63 shares during the period. Eagle Bay Advisors LLC’s holdings in Martin Marietta Materials were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MLM. Newbridge Financial Services Group Inc. raised its holdings 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 worth $25,000 after purchasing an additional 37 shares during the period. Riverview Trust Co acquired a new stake in Martin Marietta Materials during the first quarter worth $26,000. Asset Dedication LLC increased its position in shares of 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 purchasing an additional 52 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC lifted its stake in Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded down $3.08 during mid-day trading on Wednesday, reaching $557.87. The company had a trading volume of 38,164 shares, compared to its average volume of 440,346. The firm has a market cap of $34.39 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 3.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The business’s 50-day simple moving average is $534.72 and its 200 day simple moving average is $557.07.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results 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 return on equity of 13.85% and a net margin of 30.80%. The firm 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 firm posted $5.60 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $0.79 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

MLM has been the topic of a number of analyst reports. Truist Financial cut their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a 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. Stifel Nicolaus cut their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $619.36.

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.