Oppenheimer Asset Management Inc. Trims Position in Martin Marietta Materials, Inc. $MLM

Oppenheimer Asset Management Inc. decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,633 shares of the construction company’s stock after selling 932 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Martin Marietta Materials were worth $6,702,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quent Capital LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Martin Marietta Materials in the 2nd quarter valued at approximately $28,000. NewSquare Capital LLC grew its stake in shares of Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after purchasing an additional 23 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $33,000. Finally, Clearstead Trust LLC raised its stake in shares of Martin Marietta Materials by 93.8% during the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MLM shares. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Wells Fargo & Company raised their target price on shares of Martin Marietta Materials from $610.00 to $631.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 29th. Morgan Stanley lifted their target price on shares of Martin Marietta Materials from $660.00 to $690.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Barclays boosted their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, UBS Group raised their price objective on shares of Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Ten 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $676.63.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $708.94 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The stock has a market cap of $42.76 billion, a PE ratio of 37.37 and a beta of 1.16. The firm’s fifty day simple moving average is $643.76 and its 200-day simple moving average is $624.46.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio 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.