Beck Capital Management LLC Sells 79 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Beck Capital Management LLC lessened its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,742 shares of the construction company’s stock after selling 79 shares during the quarter. Beck Capital Management LLC’s holdings in Martin Marietta Materials were worth $2,014,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MLM. FMR LLC raised its stake in shares of Martin Marietta Materials by 15.3% during the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock worth $1,353,936,000 after buying an additional 334,605 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 purchasing an additional 704,460 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Martin Marietta Materials by 2.1% in the 2nd 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. lifted its stake in shares of Martin Marietta Materials by 54.2% in the 3rd 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. Finally, Bank of New York Mellon Corp grew its stake in shares of Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after purchasing an additional 11,749 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.7 %

MLM opened at $600.00 on Monday. The stock has a market capitalization of $36.67 billion, a P/E ratio of 18.70, a P/E/G ratio of 4.07 and a beta of 0.90. The company has a current ratio of 2.34, a quick ratio of 1.24 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. The firm’s fifty day simple moving average is $571.19 and its 200 day simple moving average is $555.83.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS 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 the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.94 earnings per share. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Analyst Ratings Changes

Several research firms have weighed in on MLM. Stephens cut their target price on 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. Truist Financial cut their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays boosted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $644.46.

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.