Salem Investment Counselors Inc. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,363 shares of the construction company’s stock after selling 1,632 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Martin Marietta Materials were worth $2,761,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BerganKDV Wealth Management LLC lifted its holdings in shares of Martin Marietta Materials by 25.1% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 5,709 shares of the construction company’s stock worth $1,177,000 after acquiring an additional 1,146 shares during the last quarter. Ackerman Capital Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 2nd quarter worth approximately $325,000. Swiss National Bank lifted its holdings in shares of Martin Marietta Materials by 7.7% in the 2nd quarter. Swiss National Bank now owns 230,250 shares of the construction company’s stock worth $51,249,000 after acquiring an additional 16,500 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Martin Marietta Materials by 10.9% in the 3rd quarter. Victory Capital Management Inc. now owns 20,135 shares of the construction company’s stock worth $4,153,000 after acquiring an additional 1,982 shares during the last quarter. Finally, Greenwood Capital Associates LLC lifted its holdings in shares of Martin Marietta Materials by 4.1% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,641 shares of the construction company’s stock worth $588,000 after acquiring an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 97.45% of the company’s stock.

MLM has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday, September 4th. Bank of America decreased their price objective on shares of Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Jefferies Group reiterated a “buy” rating and set a $240.00 target price on shares of Martin Marietta Materials in a report on Wednesday, October 11th. DA Davidson reiterated a “hold” rating and set a $225.00 target price on shares of Martin Marietta Materials in a report on Friday, November 3rd. Finally, SunTrust Banks reiterated a “buy” rating and set a $228.00 target price on shares of Martin Marietta Materials in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Martin Marietta Materials has a consensus rating of “Hold” and a consensus price target of $240.50.

Martin Marietta Materials, Inc. (NYSE MLM) traded up $0.76 during trading on Thursday, reaching $208.01. 453,500 shares of the company’s stock were exchanged, compared to its average volume of 637,846. The firm has a market cap of $13,080.00, a price-to-earnings ratio of 30.21, a PEG ratio of 2.16 and a beta of 1.12. Martin Marietta Materials, Inc. has a 12 month low of $191.09 and a 12 month high of $244.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 2.73.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Thursday, November 2nd. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.06). The business had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a return on equity of 10.39% and a net margin of 11.03%. Martin Marietta Materials’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.49 earnings per share. analysts predict that Martin Marietta Materials, Inc. will post 6.92 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.76 dividend on an annualized basis and a yield of 0.85%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 25.66%.

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Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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