Raymond James Trust N.A. Grows Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Raymond James Trust N.A. lifted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,724 shares of the construction company’s stock after acquiring an additional 91 shares during the period. Raymond James Trust N.A.’s holdings in Martin Marietta Materials were worth $928,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Martin Marietta Materials by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 382,919 shares of the construction company’s stock valued at $206,106,000 after purchasing an additional 2,237 shares in the last quarter. Banco Santander S.A. acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $257,000. Intech Investment Management LLC boosted its position in Martin Marietta Materials by 9.6% during the 3rd quarter. Intech Investment Management LLC now owns 4,120 shares of the construction company’s stock valued at $2,218,000 after purchasing an additional 361 shares during the period. Advisors Asset Management Inc. boosted its position in Martin Marietta Materials by 5.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 24,995 shares of the construction company’s stock valued at $13,454,000 after purchasing an additional 1,253 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Martin Marietta Materials by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,797 shares of the construction company’s stock valued at $20,344,000 after purchasing an additional 356 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MLM. Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. UBS Group began coverage on 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. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, 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. 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 company has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $597.81 on Monday. 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 stock has a market capitalization 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 stock’s fifty day simple moving average is $565.21 and its 200 day simple moving average is $556.45. Martin Marietta Materials, Inc. has a 52-week low of $456.83 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during 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%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 earnings per share. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share 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 of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. Martin Marietta Materials’s dividend payout ratio is 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.