Martin Marietta Materials, Inc. (NYSE:MLM) Position Trimmed by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,111 shares of the construction company’s stock after selling 48 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Martin Marietta Materials were worth $1,136,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its holdings in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after acquiring an additional 37 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $31,000. Asset Dedication LLC boosted its position in 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 during the period. Fortitude Family Office LLC grew its stake in Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials in the first quarter worth $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MLM shares. Morgan Stanley boosted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Stifel Nicolaus reduced their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Loop Capital reduced their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $619.36.

Martin Marietta Materials Stock Performance

MLM opened at $570.21 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $35.15 billion, a PE ratio of 16.90, a P/E/G ratio of 4.62 and a beta of 0.91. The business has a fifty day simple moving average of $536.79 and a 200-day simple moving average of $556.47. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $5.60 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.79 dividend. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.36%.

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.