Martin Marietta Materials, Inc. (NYSE:MLM) Position Trimmed by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 26.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 306 shares of the construction company’s stock after selling 108 shares during the period. First Horizon Advisors Inc.’s holdings in Martin Marietta Materials were worth $165,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MLM. Ameritas Advisory Services LLC boosted its position in shares of Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock valued at $360,000 after purchasing an additional 18 shares during the period. Inspire Investing LLC boosted its holdings in shares of Martin Marietta Materials by 0.9% in the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after buying an additional 19 shares during the period. Mather Group LLC. increased its position in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares in the last quarter. TFG Advisers LLC raised its holdings in shares of Martin Marietta Materials by 3.7% during the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after acquiring an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its position in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MLM shares. Loop Capital lifted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on 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 upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. UBS Group initiated coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Finally, Jefferies Financial Group reduced their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $597.81 on Friday. The firm has a market cap of $36.54 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 3.95 and a beta of 0.90. The company’s fifty day moving average is $565.21 and its 200-day moving average is $556.75. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted 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). 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $6.94 earnings per share. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. 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 (DPR) is currently 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.