Princeton Capital Management LLC Sells 45 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Princeton Capital Management LLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,227 shares of the construction company’s stock after selling 45 shares during the period. Princeton Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,199,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MLM. Newbridge Financial Services Group Inc. boosted its holdings 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 valued at $25,000 after acquiring an additional 37 shares during the last quarter. Asset Dedication LLC boosted its holdings in Martin Marietta Materials by 1,300.0% in the third 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 last quarter. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the third quarter worth approximately $33,000. Fortitude Family Office LLC grew its position in Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MLM shares. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Stephens lowered their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Loop Capital lifted 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. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Down 0.2 %

NYSE MLM opened at $581.64 on Tuesday. The stock has a 50 day moving average price of $557.57 and a 200-day moving average price of $556.43. Martin Marietta Materials, Inc. has a one year low of $451.37 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company has a market capitalization of $35.55 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.90 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last issued 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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the business earned $6.94 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS 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 paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

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.