Kapstone Financial Advisors LLC Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Kapstone Financial Advisors LLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,317 shares of the construction company’s stock after selling 120 shares during the period. Kapstone Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $710,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. boosted its position in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC boosted its position in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $33,000. Fortitude Family Office LLC lifted its holdings 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 in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 0.6 %

NYSE:MLM traded down $3.88 during midday trading on Thursday, hitting $601.38. 36,013 shares of the company were exchanged, compared to its average volume of 445,756. The company has a fifty day simple moving average of $554.32 and a 200 day simple moving average of $556.80. Martin Marietta Materials, Inc. has a fifty-two week low of $451.37 and a fifty-two week 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 company has a market capitalization of $36.76 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly 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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 earnings per share. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid 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 yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Analysts Set New Price Targets

MLM has been the topic of a number of research reports. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. reduced their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays raised 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. Finally, Morgan Stanley raised their price objective 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $634.85.

About Martin Marietta Materials

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.