RMR Wealth Builders Sells 2,844 Shares of Martin Marietta Materials, Inc. $MLM

RMR Wealth Builders reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 77.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 810 shares of the construction company’s stock after selling 2,844 shares during the quarter. RMR Wealth Builders’ holdings in Martin Marietta Materials were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MLM. Atika Capital Management LLC increased its holdings in Martin Marietta Materials by 30.4% in the 2nd quarter. Atika Capital Management LLC now owns 72,533 shares of the construction company’s stock valued at $39,818,000 after buying an additional 16,900 shares during the period. Atlantic Union Bankshares Corp boosted its position in shares of Martin Marietta Materials by 321.8% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 3,817 shares of the construction company’s stock worth $2,406,000 after acquiring an additional 2,912 shares in the last quarter. HB Wealth Management LLC increased its stake in Martin Marietta Materials by 78.5% in the third quarter. HB Wealth Management LLC now owns 8,008 shares of the construction company’s stock valued at $5,048,000 after acquiring an additional 3,522 shares during the last quarter. National Pension Service increased its stake in Martin Marietta Materials by 1.0% in the third quarter. National Pension Service now owns 84,820 shares of the construction company’s stock valued at $53,460,000 after acquiring an additional 843 shares during the last quarter. Finally, Fenimore Asset Management Inc raised its position in Martin Marietta Materials by 0.9% during the third quarter. Fenimore Asset Management Inc now owns 89,657 shares of the construction company’s stock valued at $56,509,000 after purchasing an additional 807 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on Martin Marietta Materials from $754.00 to $758.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Raymond James Financial raised their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Barclays raised their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Jefferies Financial Group upped their price objective on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.63.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $670.07 on Friday. The business’s 50-day moving average price is $638.82 and its 200-day moving average price is $621.22. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $679.56. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 35.32 and a beta of 1.16. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $2.06 billion. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.