Kapstone Financial Advisors LLC Sells 120 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Kapstone Financial Advisors LLC lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,317 shares of the construction company’s stock after selling 120 shares during the period. Kapstone Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MLM. Principal Financial Group Inc. raised its stake in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after buying an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after buying an additional 12,759 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after buying an additional 164,503 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Martin Marietta Materials by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after buying an additional 11,749 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MLM. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target on the stock. Barclays lifted their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. 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 report on Wednesday, October 9th. Finally, Citigroup cut their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $3.88 during trading hours on Thursday, reaching $601.38. The stock had a trading volume of 36,013 shares, compared to its average volume of 445,756. The stock’s 50 day moving average is $554.32 and its 200 day moving average is $556.80. The firm has a market capitalization of $36.76 billion, a PE ratio of 18.86, a PEG ratio of 4.05 and a beta of 0.90. Martin Marietta Materials, Inc. has a twelve month low of $451.37 and a twelve month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

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

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

About Martin Marietta Materials

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.