Martin Marietta Materials, Inc. (NYSE:MLM) Position Reduced by Proficio Capital Partners LLC

Proficio Capital Partners LLC trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,689 shares of the construction company’s stock after selling 72 shares during the quarter. Proficio Capital Partners LLC’s holdings in Martin Marietta Materials were worth $909,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MLM. Newbridge Financial Services Group Inc. lifted its position in shares of Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC lifted its position in shares of Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth about $33,000. Fortitude Family Office LLC lifted its position in shares of Martin Marietta Materials by 186.4% in the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after buying an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Martin Marietta Materials in the 1st quarter worth about $41,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Up 0.4 %

MLM stock opened at $619.58 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $448.73 and a 52 week high of $633.23. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 4.12 and a beta of 0.90. The firm’s 50-day moving average is $549.06 and its two-hundred day moving average is $556.56. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last released 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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $6.94 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share 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. Investors of record on Monday, December 2nd will be issued a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. Martin Marietta Materials’s payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Stephens cut 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 report on Friday, August 9th. Loop Capital lifted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial cut their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $634.85.

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.