Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,288 shares of the construction company’s stock after purchasing an additional 1,497 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Martin Marietta Materials were worth $15,226,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its holdings in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the first quarter valued at approximately $31,000. Asset Dedication LLC grew its holdings in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares in the last quarter. Fortitude Family Office LLC grew its holdings in Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.1 %

Shares of MLM stock traded down $0.44 during trading hours on Friday, hitting $570.21. 248,678 shares of the company were exchanged, compared to its average volume of 440,467. The firm has a market cap of $35.15 billion, a PE ratio of 16.90, a PEG ratio of 4.62 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $536.79 and a 200 day moving average of $556.84.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the company earned $5.60 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $0.79 dividend. 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. This represents a $3.16 annualized dividend and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Stephens dropped their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group dropped their price objective on shares of 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. Stifel Nicolaus dropped their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Loop Capital dropped their price objective on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $619.36.

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.