Vestmark Advisory Solutions Inc. Cuts Position in Martin Marietta Materials, Inc. $MLM

Vestmark Advisory Solutions Inc. lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,496 shares of the construction company’s stock after selling 1,021 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Martin Marietta Materials were worth $4,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new position in shares of Martin Marietta Materials during the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the second quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the third quarter worth about $32,000. NewSquare Capital LLC grew its stake in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $686.51 on Monday. The company has a market capitalization of $41.40 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The firm’s 50-day moving average is $651.62 and its two-hundred day moving average is $629.22.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.79 earnings per share. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.66%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MLM shares. Royal Bank Of Canada cut their price target on shares of Martin Marietta Materials from $605.00 to $575.00 and set a “sector perform” rating on the stock in a report on Friday, February 13th. Loop Capital lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective on the stock. in a research note on Wednesday, January 28th. Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wells Fargo & Company cut their price target on Martin Marietta Materials from $631.00 to $612.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Finally, Citigroup lifted their price objective on Martin Marietta Materials from $758.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $690.69.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value?added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready?mixed concrete and related materials and services.