Vestmark Advisory Solutions Inc. Reduces Holdings in Martin Marietta Materials, Inc. $MLM

Vestmark Advisory Solutions Inc. reduced its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 12.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,496 shares of the construction company’s stock after selling 1,021 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Martin Marietta Materials were worth $4,725,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in shares of Martin Marietta Materials during the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the second quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Martin Marietta Materials in the third quarter valued at approximately $32,000. NewSquare Capital LLC grew its position in shares of Martin Marietta Materials by 62.2% during the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock worth $33,000 after acquiring an additional 23 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.6%

Shares of Martin Marietta Materials stock opened at $686.51 on Monday. The firm has a market cap of $41.40 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $710.97. The company’s 50-day simple moving average is $651.62 and its 200-day simple moving average is $629.22. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data 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). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. Martin Marietta Materials’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.79 EPS. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio is presently 17.66%.

Analyst Ratings Changes

A number of analysts recently weighed in on MLM shares. Stephens decreased their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Citigroup increased their target price on shares of Martin Marietta Materials from $758.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price target on the stock. in a report on Wednesday, January 28th. UBS Group boosted their price target on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $706.00 price objective on shares of Martin Marietta Materials in a research report on Tuesday, February 17th. Nine equities research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $690.69.

Martin Marietta Materials Company 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.