Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Lessened by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,111 shares of the construction company’s stock after selling 48 shares during the period. Frank Rimerman Advisors LLC’s holdings in Martin Marietta Materials were worth $1,136,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted 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 valued at $602,092,000 after acquiring an additional 523,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 purchasing an additional 12,759 shares in the last quarter. Bank of New York Mellon Corp increased its position in Martin Marietta Materials by 2.6% during 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 during the last quarter. William Blair Investment Management LLC increased its position in Martin Marietta Materials by 1.0% during the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock worth $203,073,000 after buying an additional 3,598 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Martin Marietta Materials by 2.2% during the second quarter. Clearbridge Investments LLC now owns 228,775 shares of the construction company’s stock worth $123,950,000 after buying an additional 4,939 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MLM. Loop Capital lowered their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Stephens cut their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Morgan Stanley lifted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $619.36.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $570.21 on Monday. The firm has a market capitalization of $35.15 billion, a P/E ratio of 16.90, a PEG ratio of 4.62 and a beta of 0.91. The business has a 50-day moving average of $536.79 and a 200-day moving average of $556.47. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $5.60 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.55%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

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.