Douglas Lane & Associates LLC Lowers Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Douglas Lane & Associates LLC reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,436 shares of the construction company’s stock after selling 476 shares during the period. Douglas Lane & Associates LLC’s holdings in Martin Marietta Materials were worth $17,786,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MLM. Newbridge Financial Services Group Inc. raised its position in Martin Marietta Materials by 411.1% during the second 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 in the last quarter. Asset Dedication LLC increased its holdings 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 valued at $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at $33,000. Larson Financial Group LLC purchased a new stake in Martin Marietta Materials during the third quarter worth $49,000. Finally, Tobam boosted its holdings in Martin Marietta Materials by 38.8% during the third quarter. Tobam now owns 93 shares of the construction company’s stock worth $50,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley lowered their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research report on Wednesday, December 11th. BNP Paribas lowered Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price target for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $643.36.

Martin Marietta Materials Trading Up 2.0 %

Shares of MLM traded up $10.21 during midday trading on Wednesday, reaching $518.86. The company had a trading volume of 238,402 shares, compared to its average volume of 364,263. The firm has a 50 day simple moving average of $568.26 and a 200-day simple moving average of $551.88. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market cap of $31.71 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 3.74 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $488.30 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm 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%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.61%. Martin Marietta Materials’s dividend payout ratio 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.