Busey Wealth Management Trims Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Busey Wealth Management cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,656 shares of the construction company’s stock after selling 100 shares during the quarter. Busey Wealth Management’s holdings in Martin Marietta Materials were worth $2,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. AHL Investment Management Inc. bought a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $31,000. NuWave Investment Management LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $37,000. Tortoise Investment Management LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $39,000. First Eagle Investment Management LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $41,000. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $44,000. Institutional investors own 93.49% of the company’s stock.

A number of brokerages recently issued reports on MLM. DA Davidson lowered their price target on Martin Marietta Materials from $450.00 to $375.00 and set a “buy” rating for the company in a research report on Friday. TheStreet downgraded Martin Marietta Materials from a “b” rating to a “c+” rating in a research report on Tuesday, May 10th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $420.00 to $410.00 in a research report on Friday, June 3rd. Morgan Stanley decreased their target price on Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. Finally, StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $438.30.

MLM opened at $296.05 on Friday. The business’s 50-day moving average is $330.42 and its two-hundred day moving average is $370.41. Martin Marietta Materials, Inc. has a 1 year low of $291.57 and a 1 year high of $446.46. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.79 and a quick ratio of 1.69. The firm has a market capitalization of $18.46 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.79.

Martin Marietta Materials (NYSE:MLMGet Rating) last posted its earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.32). Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the firm earned $1.04 EPS. Martin Marietta Materials’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 13.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $2.44 dividend on an annualized basis and a dividend yield of 0.82%. Martin Marietta Materials’s payout ratio is 23.19%.

Martin Marietta Materials Profile (Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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