Confluence Investment Management LLC Sells 1,045 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Confluence Investment Management LLC reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 64,209 shares of the construction company’s stock after selling 1,045 shares during the period. Confluence Investment Management LLC owned about 0.11% of Martin Marietta Materials worth $34,560,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MLM. Ameritas Advisory Services LLC lifted its position in shares of Martin Marietta Materials by 2.8% during the second quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after purchasing an additional 18 shares during the last quarter. Inspire Investing LLC lifted its holdings in Martin Marietta Materials by 0.9% during the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after buying an additional 19 shares in the last quarter. Mather Group LLC. boosted its position in Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after buying an additional 20 shares during the period. TFG Advisers LLC grew its stake in Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock worth $300,000 after acquiring an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co increased its position in shares of Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Loop Capital boosted their price target on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. 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 research note on Monday, August 12th. Truist Financial lowered their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, UBS Group started coverage on shares of Martin Marietta Materials in a research report on Thursday. They set a “buy” rating and a $730.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Trading Down 0.0 %

Martin Marietta Materials stock opened at $617.16 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The stock has a market cap of $37.72 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 3.86 and a beta of 0.90. The stock has a 50-day moving average of $547.35 and a two-hundred day moving average of $556.58. Martin Marietta Materials, Inc. has a one year low of $444.14 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.94 earnings per share. On average, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.95 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. Martin Marietta Materials’s payout ratio is 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.