Bank of Hawaii Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Bank of Hawaii decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,869 shares of the construction company’s stock after selling 225 shares during the period. Bank of Hawaii’s holdings in Martin Marietta Materials were worth $2,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the period. Dimensional Fund Advisors LP increased its stake in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock valued at $337,903,000 after purchasing an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after purchasing an additional 164,503 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Martin Marietta Materials by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock valued at $252,318,000 after buying an additional 11,749 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Martin Marietta Materials by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 382,919 shares of the construction company’s stock worth $206,106,000 after buying an additional 2,237 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley upped 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. 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 report on Friday, August 9th. Citigroup cut their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, 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 report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Trading Up 1.2 %

Shares of Martin Marietta Materials stock opened at $597.81 on Monday. The company has a 50-day moving average of $565.21 and a two-hundred day moving average of $556.45. Martin Marietta Materials, Inc. has a 12-month low of $456.83 and a 12-month 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 stock has a market cap of $36.54 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90.

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

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 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.