Nwam LLC Cuts Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Nwam LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,404 shares of the construction company’s stock after selling 56 shares during the period. Nwam LLC’s holdings in Martin Marietta Materials were worth $3,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its stake in shares of 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 in the last quarter. Asset Dedication LLC lifted 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 valued at $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials during the 3rd quarter worth $33,000. Fortitude Family Office LLC grew its stake in shares of 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 purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered 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 research report on Wednesday, October 9th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Loop Capital lifted their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley lifted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Trading Up 0.2 %

NYSE MLM opened at $591.74 on Friday. The company has a 50-day moving average of $563.67 and a 200-day moving average of $556.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23. The company has a market cap of $36.17 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.89 and a beta of 0.90.

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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company earned $6.94 earnings per share. The company’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 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 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.