F M Investments LLC Trims Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

F M Investments LLC decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,787 shares of the construction company’s stock after selling 324 shares during the quarter. F M Investments LLC’s holdings in Martin Marietta Materials were worth $4,730,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC grew its position in Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after buying an additional 18 shares during the period. Inspire Investing LLC increased its stake in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after purchasing an additional 19 shares in the last quarter. Mather Group LLC. increased its stake in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC raised its holdings in Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after purchasing an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its position in Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after purchasing an additional 20 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on MLM shares. Loop Capital boosted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective 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. 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 note on Wednesday, October 9th. Finally, Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $626.92.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $580.14 on Friday. The business’s 50 day moving average price is $541.37 and its 200 day moving average price is $555.98. The company has a market cap of $35.46 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 5.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.94 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a one year low of $438.53 and a one year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business earned $6.94 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts predict that Martin Marietta Materials, Inc. will post 18.48 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Martin Marietta Materials 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.