Skylands Capital LLC Lowers Stock Position in Martin Marietta Materials, Inc. $MLM

Skylands Capital LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 22.0% during the third quarter, HoldingsChannel.com reports. The fund owned 5,945 shares of the construction company’s stock after selling 1,675 shares during the period. Skylands Capital LLC’s holdings in Martin Marietta Materials were worth $3,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of MLM. Caprock Group LLC acquired a new position in Martin Marietta Materials in the third quarter valued at $1,605,000. Krilogy Financial LLC purchased a new position in shares of Martin Marietta Materials during the third quarter worth about $302,000. ABC Arbitrage SA purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $2,977,000. Wealthfront Advisers LLC lifted its position in Martin Marietta Materials by 4.0% during the 3rd quarter. Wealthfront Advisers LLC now owns 5,755 shares of the construction company’s stock worth $3,627,000 after acquiring an additional 219 shares during the period. Finally, AlTi Global Inc. increased its holdings in shares of Martin Marietta Materials by 1.4% in the third quarter. AlTi Global Inc. now owns 1,499 shares of the construction company’s stock valued at $945,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MLM shares. Citigroup upped their price target on Martin Marietta Materials from $754.00 to $758.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Loop Capital cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a research note on Wednesday, January 28th. UBS Group lifted their target price on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Martin Marietta Materials from $610.00 to $631.00 and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average price target of $676.63.

Martin Marietta Materials Price Performance

Shares of NYSE MLM opened at $708.94 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $710.97. The firm has a market capitalization of $42.76 billion, a P/E ratio of 37.37 and a beta of 1.16. The company’s fifty day moving average is $643.76 and its two-hundred day moving average is $624.46.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Martin Marietta Materials had a net margin of 17.34% and a return on equity of 11.68%. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Martin Marietta Materials Profile

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.