Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Lessened by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 57,388 shares of the construction company’s stock after selling 310 shares during the period. Congress Wealth Management LLC DE’s holdings in Martin Marietta Materials were worth $35,233,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC grew its stake in shares of Martin Marietta Materials by 3.6% in the third quarter. LPL Financial LLC now owns 22,776 shares of the construction company’s stock worth $9,349,000 after purchasing an additional 786 shares in the last quarter. Mariner LLC increased its position in shares of Martin Marietta Materials by 3.9% during the 3rd quarter. Mariner LLC now owns 4,542 shares of the construction company’s stock valued at $1,864,000 after purchasing an additional 172 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Martin Marietta Materials by 46.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,787 shares of the construction company’s stock worth $734,000 after buying an additional 568 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Martin Marietta Materials during the third quarter valued at about $34,736,000. Finally, Tower Research Capital LLC TRC raised its position in Martin Marietta Materials by 79.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,300 shares of the construction company’s stock worth $1,355,000 after acquiring an additional 1,461 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Down 1.8 %

NYSE MLM traded down $9.75 on Monday, reaching $532.05. The stock had a trading volume of 477,612 shares, compared to its average volume of 422,547. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The business has a 50 day moving average price of $573.14 and a 200 day moving average price of $557.48. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $32.80 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.40 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. On average, analysts forecast that Martin Marietta Materials, Inc. will post 23.1 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Citigroup lifted their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Stifel Nicolaus upped their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Truist Financial lifted their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.27.

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.