Graypoint LLC Decreases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Graypoint LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,460 shares of the construction company’s stock after selling 41 shares during the quarter. Graypoint LLC’s holdings in Martin Marietta Materials were worth $754,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Inspire Investing LLC raised its holdings in shares of Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after acquiring an additional 19 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares in the last quarter. 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 worth $368,000 after purchasing an additional 20 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock worth $307,000 after purchasing an additional 20 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Martin Marietta Materials by 1.9% during the third quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock worth $604,000 after buying an additional 21 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLM has been the subject of several research reports. Jefferies Financial Group dropped their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Barclays upped their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a research note on Wednesday, December 11th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research note on Wednesday. Finally, BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $643.36.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $508.54 on Friday. The firm’s 50 day moving average price is $563.58 and its 200-day moving average price is $551.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. Martin Marietta Materials, Inc. has a one year low of $489.90 and a one year high of $633.23. The firm has a market cap of $31.08 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.94 earnings per share. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 17.58 EPS for the current 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 issued a dividend of $0.79 per share. 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 0.62%. Martin Marietta Materials’s dividend payout ratio (DPR) 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.