Oppenheimer Asset Management Inc. Sells 519 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Oppenheimer Asset Management Inc. trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,997 shares of the construction company’s stock after selling 519 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Martin Marietta Materials were worth $6,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ameritas Advisory Services LLC boosted its stake 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 valued at $360,000 after purchasing an additional 18 shares during the period. Inspire Investing LLC increased 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 purchasing an additional 19 shares during the period. Mather Group LLC. raised its position in Martin Marietta Materials by 13.6% during the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares during the last quarter. TFG Advisers LLC lifted its holdings 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 buying an additional 20 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its position in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after buying an additional 20 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Truist Financial decreased their price target 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. Stephens cut their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Four 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $587.96 on Friday. The stock has a market cap of $35.93 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 4.05 and a beta of 0.90. 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, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The firm’s 50-day moving average is $554.32 and its 200 day moving average is $556.80.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for 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 company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.94 EPS. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

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.