Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Bank of Hawaii

Bank of Hawaii lowered its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,869 shares of the construction company’s stock after selling 225 shares during the quarter. Bank of Hawaii’s holdings in Martin Marietta Materials were worth $2,082,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Douglass Winthrop Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 2.2% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 193,588 shares of the construction company’s stock worth $104,199,000 after acquiring an additional 4,080 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Martin Marietta Materials by 2.8% in the third quarter. Daiwa Securities Group Inc. now owns 16,164 shares of the construction company’s stock valued at $8,700,000 after purchasing an additional 441 shares during the period. Summit Trail Advisors LLC lifted its stake in Martin Marietta Materials by 4.2% during the third quarter. Summit Trail Advisors LLC now owns 1,542 shares of the construction company’s stock worth $830,000 after purchasing an additional 62 shares in the last quarter. Larson Financial Group LLC purchased a new position in shares of Martin Marietta Materials during the third quarter worth $49,000. Finally, Swedbank AB grew its stake in shares of Martin Marietta Materials by 326.4% in the third quarter. Swedbank AB now owns 3,492 shares of the construction company’s stock valued at $1,880,000 after buying an additional 2,673 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 1.2 %

Martin Marietta Materials stock opened at $597.81 on Monday. The stock has a market cap of $36.54 billion, a PE ratio of 18.63, a P/E/G ratio of 4.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The stock’s fifty day moving average is $565.21 and its two-hundred day moving average is $556.45. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its 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). The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $6.94 EPS. On average, sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given 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 dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MLM shares. Truist Financial decreased their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. UBS Group assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Company 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.