Stonebridge Capital Management Inc. Cuts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Stonebridge Capital Management Inc. lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 975 shares of the construction company’s stock after selling 40 shares during the period. Stonebridge Capital Management Inc.’s holdings in Martin Marietta Materials were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. Thoroughbred Financial Services LLC purchased a new stake in Martin Marietta Materials during the 2nd quarter valued at $328,000. Brown Brothers Harriman & Co. boosted its stake in Martin Marietta Materials by 11.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,789 shares of the construction company’s stock valued at $969,000 after purchasing an additional 188 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Martin Marietta Materials during the 2nd quarter valued at $308,000. Edgestream Partners L.P. purchased a new stake in Martin Marietta Materials during the 2nd quarter valued at $673,000. Finally, Meiji Yasuda Life Insurance Co boosted its stake in Martin Marietta Materials by 3.0% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MLM. Barclays increased their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Citigroup lowered their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Jefferies Financial Group lowered their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $643.36.

Martin Marietta Materials Trading Up 2.8 %

MLM opened at $532.12 on Thursday. The firm has a market cap of $32.52 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.97 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12 month low of $489.90 and a 12 month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $559.19 and a 200 day moving average of $550.92.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $6.94 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 17.6 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.