Hudson Value Partners LLC Lowers Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Hudson Value Partners LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,625 shares of the construction company’s stock after selling 195 shares during the quarter. Hudson Value Partners LLC’s holdings in Martin Marietta Materials were worth $1,413,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock worth $876,648,000 after purchasing an additional 704,460 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Martin Marietta Materials by 114.3% in the 1st 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. The Manufacturers Life Insurance Company boosted its holdings in Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after acquiring an additional 106,002 shares during the period. M&G Plc bought a new position in Martin Marietta Materials during the 1st quarter worth approximately $41,142,000. Finally, Assenagon Asset Management S.A. increased its stake in Martin Marietta Materials by 682.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company’s stock worth $40,393,000 after purchasing an additional 65,454 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 0.0 %

Shares of Martin Marietta Materials stock opened at $617.16 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $444.14 and a 1 year high of $633.23. The firm has a market cap of $37.72 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 3.86 and a beta of 0.90. The company has a 50-day moving average of $547.35 and a 200 day moving average of $556.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share 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 business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $6.94 EPS. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.95 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.51%. This is an increase 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 payout ratio is 9.85%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group cut their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, StockNews.com lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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.