Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Ironsides Asset Advisors LLC

Ironsides Asset Advisors LLC reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 832 shares of the construction company’s stock after selling 24 shares during the period. Ironsides Asset Advisors LLC’s holdings in Martin Marietta Materials were worth $448,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Graypoint LLC lifted its stake in Martin Marietta Materials by 2.9% in the 3rd quarter. Graypoint LLC now owns 1,501 shares of the construction company’s stock valued at $808,000 after buying an additional 43 shares in the last quarter. Forte Capital LLC ADV purchased a new position in Martin Marietta Materials in the 3rd quarter valued at $557,000. M&G PLC grew its holdings in shares of Martin Marietta Materials by 5.2% during the third quarter. M&G PLC now owns 66,840 shares of the construction company’s stock worth $35,960,000 after buying an additional 3,311 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of Martin Marietta Materials by 55.7% in the third quarter. Marks Group Wealth Management Inc now owns 707 shares of the construction company’s stock worth $381,000 after buying an additional 253 shares in the last quarter. Finally, Heritage Investors Management Corp boosted its holdings in shares of Martin Marietta Materials by 0.4% during the 3rd quarter. Heritage Investors Management Corp now owns 63,437 shares of the construction company’s stock worth $34,145,000 after purchasing an additional 247 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Loop Capital boosted their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup decreased their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $626.92.

Martin Marietta Materials Trading Up 6.0 %

MLM opened at $617.31 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.86 and a beta of 0.90. The business has a fifty day moving average price of $545.48 and a 200 day moving average price of $556.16. Martin Marietta Materials, Inc. has a 12 month low of $439.36 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued 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). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm 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 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.51%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is 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.