Martin Marietta Materials, Inc. (NYSE:MLM) Position Lowered by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 26.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306 shares of the construction company’s stock after selling 108 shares during the quarter. First Horizon Advisors Inc.’s holdings in Martin Marietta Materials were worth $165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLM. CreativeOne Wealth LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $204,000. Price T Rowe Associates Inc. MD increased its stake in Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock valued at $602,092,000 after purchasing an additional 523,038 shares during the last quarter. Interval Partners LP raised its holdings in shares of Martin Marietta Materials by 117.4% during the first quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock worth $58,822,000 after purchasing an additional 51,749 shares during the period. Ancora Advisors LLC lifted its position in shares of Martin Marietta Materials by 25.1% in the 1st quarter. Ancora Advisors LLC now owns 8,603 shares of the construction company’s stock worth $5,282,000 after buying an additional 1,726 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Martin Marietta Materials by 17.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock valued at $3,866,000 after buying an additional 952 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MLM. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup cut their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Morgan Stanley boosted their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Loop Capital increased their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group reduced their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Up 1.2 %

Martin Marietta Materials stock opened at $597.81 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The stock has a market cap of $36.54 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.95 and a beta of 0.90. The company’s 50-day moving average price is $565.21 and its two-hundred day moving average price is $556.75. 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 posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 EPS. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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