Sequoia Financial Advisors LLC Sells 2,098 Shares of Martin Marietta Materials, Inc. $MLM

Sequoia Financial Advisors LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,326 shares of the construction company’s stock after selling 2,098 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $6,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC grew its holdings in Martin Marietta Materials by 0.8% during the 4th quarter. Lido Advisors LLC now owns 1,920 shares of the construction company’s stock valued at $1,209,000 after buying an additional 15 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Martin Marietta Materials by 3.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company’s stock worth $264,000 after buying an additional 16 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company’s stock worth $42,000 after buying an additional 16 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Martin Marietta Materials by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,186 shares of the construction company’s stock valued at $1,361,000 after acquiring an additional 17 shares during the period. Finally, Fiduciary Alliance LLC grew its stake in Martin Marietta Materials by 2.6% during the fourth quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company’s stock valued at $437,000 after acquiring an additional 18 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $578.00 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The stock has a market cap of $34.71 billion, a PE ratio of 13.78, a P/E/G ratio of 2.46 and a beta of 1.10. The firm has a 50 day simple moving average of $581.94 and a two-hundred day simple moving average of $615.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $1.90 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were given a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays decreased their target price on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a research report on Tuesday, June 2nd. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research report on Thursday, April 2nd. UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a report on Sunday, May 10th. Finally, Citigroup lifted their price objective on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and a consensus price target of $682.41.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.