Thurston Springer Miller Herd & Titak Inc. Trims Position in Martin Marietta Materials, Inc. $MLM

Thurston Springer Miller Herd & Titak Inc. decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 93.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106 shares of the construction company’s stock after selling 1,437 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Martin Marietta Materials were worth $67,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the second quarter valued at about $28,000. NewSquare Capital LLC boosted its stake in Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after buying an additional 23 shares in the last quarter. Clearstead Trust LLC grew its position in Martin Marietta Materials by 93.8% in the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after buying an additional 30 shares during the last quarter. Aspect Partners LLC raised its holdings in Martin Marietta Materials by 540.0% during the 2nd quarter. Aspect Partners LLC now owns 64 shares of the construction company’s stock worth $35,000 after buying an additional 54 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Martin Marietta Materials in the second quarter valued at $37,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 1.6%

Shares of Martin Marietta Materials stock opened at $619.17 on Thursday. The stock has a market cap of $37.34 billion, a P/E ratio of 32.64 and a beta of 1.16. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $618.67 and its 200-day moving average is $597.96. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $665.18.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

Analysts Set New Price Targets

A number of research firms have issued reports on MLM. Jefferies Financial Group lifted their target price on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the company a “buy” rating in a research note on Monday. Raymond James Financial boosted their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wells Fargo & Company lowered their price objective on Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Morgan Stanley lifted their price target on Martin Marietta Materials from $610.00 to $660.00 and gave the company an “overweight” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $650.31.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.