GW&K Investment Management LLC Sells 1,471 Shares of Martin Marietta Materials, Inc. $MLM

GW&K Investment Management LLC reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 36,620 shares of the construction company’s stock after selling 1,471 shares during the quarter. GW&K Investment Management LLC’s holdings in Martin Marietta Materials were worth $23,081,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MLM. Schear Investment Advisers LLC grew its position in Martin Marietta Materials by 0.6% in the third quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after purchasing an additional 16 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Martin Marietta Materials by 10.4% during the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock worth $99,000 after acquiring an additional 17 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in Martin Marietta Materials by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock valued at $283,000 after purchasing an additional 17 shares during the last quarter. Ritholtz Wealth Management grew its stake in Martin Marietta Materials by 2.9% in the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock valued at $407,000 after purchasing an additional 18 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its stake in shares of Martin Marietta Materials by 1.9% during the 2nd quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock worth $533,000 after purchasing an additional 18 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Weiss Ratings cut Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. B. Riley Financial started coverage on Martin Marietta Materials in a research report on Thursday, January 15th. They issued a “neutral” rating and a $700.00 price objective for the company. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Citigroup raised their price target on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a report on Monday. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $697.13.

Martin Marietta Materials Trading Down 4.1%

Shares of NYSE:MLM opened at $633.54 on Friday. The company has a market capitalization of $38.21 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.54 and a beta of 1.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The business’s 50 day simple moving average is $658.16 and its 200 day simple moving average is $632.67. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the company posted $4.79 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is 17.66%.

Martin Marietta Materials 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.