Douglass Winthrop Advisors LLC Has $104.20 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Douglass Winthrop Advisors LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 193,588 shares of the construction company’s stock after acquiring an additional 4,080 shares during the period. Martin Marietta Materials accounts for approximately 2.0% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Douglass Winthrop Advisors LLC’s holdings in Martin Marietta Materials were worth $104,199,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Kovack Advisors Inc. bought a new position in Martin Marietta Materials in the third quarter valued at about $734,000. Peak Financial Advisors LLC acquired a new position in shares of Martin Marietta Materials in the second quarter valued at approximately $2,710,000. Bank of New York Mellon Corp increased its stake 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 period. ING Groep NV acquired a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $1,601,000. Finally, Sequoia Financial Advisors LLC boosted its position in Martin Marietta Materials by 27.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,278 shares of the construction company’s stock worth $3,943,000 after buying an additional 1,549 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

MLM has been the subject of several analyst reports. Barclays raised their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. UBS Group assumed coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Truist Financial reduced their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Trading Up 1.2 %

NYSE:MLM opened at $597.81 on Monday. 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 capitalization of $36.54 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 4.05 and a beta of 0.90. The firm has a fifty day simple moving average of $565.21 and a two-hundred day simple moving average of $556.45.

Martin Marietta Materials (NYSE:MLM) last posted 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). 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 period last year, the company posted $6.94 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. Analysts expect that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company 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. 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 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.