Martin Marietta Materials, Inc. $MLM Stock Sold by Confluence Investment Management LLC

Confluence Investment Management LLC decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,097 shares of the construction company’s stock after selling 3,110 shares during the quarter. Confluence Investment Management LLC’s holdings in Martin Marietta Materials were worth $23,557,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 10.9% in the second quarter. QRG Capital Management Inc. now owns 3,432 shares of the construction company’s stock valued at $1,979,000 after acquiring an additional 336 shares in the last quarter. Junto Capital Management LP bought a new stake in Martin Marietta Materials during the 2nd quarter valued at approximately $71,249,000. Blue Edge Capital LLC purchased a new position in Martin Marietta Materials in the 2nd quarter worth approximately $452,000. Sequoia Financial Advisors LLC lifted its holdings in Martin Marietta Materials by 19.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,292 shares of the construction company’s stock worth $7,089,000 after purchasing an additional 1,966 shares in the last quarter. Finally, National Pension Service boosted its stake in Martin Marietta Materials by 6.4% in the 2nd quarter. National Pension Service now owns 95,221 shares of the construction company’s stock worth $54,914,000 after purchasing an additional 5,739 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 0.4%

Shares of NYSE:MLM traded down $2.02 during trading hours on Thursday, hitting $477.79. 342,400 shares of the company’s stock traded hands, compared to its average volume of 588,710. Martin Marietta Materials, Inc. has a 1 year low of $470.19 and a 1 year high of $710.97. The business has a fifty day moving average price of $524.23 and a 200-day moving average price of $565.02. The firm has a market capitalization of $28.70 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.76 by $0.24. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.43 earnings per share. Equities analysts expect that Martin Marietta Materials, Inc. will post 17.77 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.7%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, September 1st. Martin Marietta Materials’s payout ratio is presently 8.26%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MLM. Raymond James Financial set a $660.00 target price on shares of Martin Marietta Materials in a research report on Friday, July 31st. Sanford C. Bernstein downgraded shares of Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and set a $680.00 price objective for the company in a research report on Wednesday, September 2nd. Citigroup reduced their target price on Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Wolfe Research set a $648.00 target price on Martin Marietta Materials in a research report on Tuesday, August 4th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $666.12.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.