Martin Marietta Materials, Inc. $MLM Holdings Reduced by Third View Private Wealth LLC

Third View Private Wealth LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 32.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,597 shares of the construction company’s stock after selling 1,264 shares during the period. Third View Private Wealth LLC’s holdings in Martin Marietta Materials were worth $1,246,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MLM. Activest Wealth Management increased its holdings in shares of Martin Marietta Materials by 1,633.3% during the 3rd quarter. Activest Wealth Management now owns 52 shares of the construction company’s stock worth $25,000 after purchasing an additional 49 shares during the period. CoreCap Advisors LLC raised its position in shares of Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after buying an additional 19 shares during the last quarter. WestEnd Advisors LLC raised its position in shares of Martin Marietta Materials by 1,900.0% during the third quarter. WestEnd Advisors LLC now owns 60 shares of the construction company’s stock valued at $29,000 after buying an additional 57 shares during the last quarter. Finally, GK Wealth Management LLC bought a new stake in shares of Martin Marietta Materials in the third quarter valued at about $32,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 1.5%

NYSE MLM opened at $544.16 on Wednesday. Martin Marietta Materials, Inc. has a 1-year low of $464.92 and a 1-year high of $710.97. The company has a market capitalization of $32.69 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.86 and a beta of 1.02. The stock’s 50 day moving average is $502.86 and its two-hundred day moving average is $575.04. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were paid a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.6%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s payout ratio is presently 8.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings downgraded Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. JPMorgan Chase & Co. cut their price target on Martin Marietta Materials from $680.00 to $650.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Raymond James Financial cut their price target on Martin Marietta Materials from $660.00 to $640.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Wall Street Zen downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Finally, Stephens decreased their price target on shares of Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. Fifteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $642.05.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company’s primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.