Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 362 shares of the construction company’s stock after selling 19 shares during the period. Anchor Investment Management LLC’s holdings in Martin Marietta Materials were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Newbridge Financial Services Group Inc. lifted its position 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 valued at $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after acquiring an additional 52 shares during the last quarter. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Rothschild Investment LLC acquired a new stake in Martin Marietta Materials in the 2nd quarter valued at approximately $43,000. Finally, Larson Financial Group LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $49,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $550.92 on Friday. The firm has a market capitalization of $33.67 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89. 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 business’s fifty day moving average price is $578.63 and its 200 day moving average price is $555.97. Martin Marietta Materials, Inc. has a 12 month low of $479.67 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.94 EPS. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Loop Capital boosted their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BNP Paribas cut shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays lifted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $655.77.

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.