Accretive Wealth Partners LLC Decreases Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Accretive Wealth Partners LLC decreased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,290 shares of the construction company’s stock after selling 18 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Martin Marietta Materials were worth $1,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Ameritas Advisory Services LLC grew 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 worth $360,000 after purchasing an additional 18 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after acquiring an additional 19 shares during the last quarter. Mather Group LLC. increased its holdings in shares of 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 acquiring an additional 20 shares during the last quarter. TFG Advisers LLC raised its position in shares of Martin Marietta Materials by 3.7% during 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 lifted its stake in 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 purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $591.87 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23. The firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 3.89 and a beta of 0.90. The business’s 50 day simple moving average is $562.13 and its 200-day simple moving average is $556.52. 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 quarterly 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 firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $6.94 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Citigroup decreased their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Truist Financial decreased their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price target on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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.