Leavell Investment Management Inc. Has $2.18 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Leavell Investment Management Inc. grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,048 shares of the construction company’s stock after buying an additional 67 shares during the quarter. Leavell Investment Management Inc.’s holdings in Martin Marietta Materials were worth $2,179,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. lifted its position in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials during the first quarter worth about $41,000. Finally, Rothschild Investment LLC bought a new position in shares of Martin Marietta Materials during the second quarter worth about $43,000. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MLM shares. Citigroup cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Trading Up 0.4 %

Shares of MLM stock opened at $619.58 on Friday. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $37.87 billion, a P/E ratio of 19.31, a P/E/G ratio of 4.12 and a beta of 0.90. Martin Marietta Materials, Inc. has a twelve month low of $448.73 and a twelve month high of $633.23. The stock’s fifty day simple moving average is $549.06 and its 200 day simple moving average is $556.56.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company earned $6.94 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

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.