UMB Bank n.a. Sells 619 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

UMB Bank n.a. cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 31.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,327 shares of the construction company’s stock after selling 619 shares during the period. UMB Bank n.a.’s holdings in Martin Marietta Materials were worth $685,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in Martin Marietta Materials by 6.3% during the 2nd quarter. Intech Investment Management LLC now owns 3,759 shares of the construction company’s stock valued at $2,037,000 after acquiring an additional 223 shares during the period. Pacer Advisors Inc. grew its position in Martin Marietta Materials by 14.8% in the 2nd quarter. Pacer Advisors Inc. now owns 6,079 shares of the construction company’s stock worth $3,294,000 after purchasing an additional 783 shares during the period. ProShare Advisors LLC raised its stake in Martin Marietta Materials by 8.0% during the 2nd quarter. ProShare Advisors LLC now owns 10,228 shares of the construction company’s stock valued at $5,542,000 after buying an additional 755 shares during the last quarter. DRW Securities LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter valued at $365,000. Finally, Public Sector Pension Investment Board boosted its stake in shares of Martin Marietta Materials by 77.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,353 shares of the construction company’s stock worth $1,275,000 after buying an additional 1,024 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Loop Capital increased their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Raymond James lowered their price objective on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, January 16th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research report on Wednesday, January 8th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup cut their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

Martin Marietta Materials Stock Up 1.8 %

NYSE MLM opened at $552.43 on Wednesday. Martin Marietta Materials, Inc. has a 12 month low of $490.05 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 market cap of $33.76 billion, a PE ratio of 17.21, a P/E/G ratio of 3.17 and a beta of 0.91. The stock’s 50 day moving average is $554.49 and its 200 day moving average is $551.16.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $6.94 EPS. Research analysts predict that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared 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. This represents a $3.16 annualized dividend and a yield of 0.57%. 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 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.