1,340 Martin Marietta Materials, Inc. $MLM Shares Sold by Weaver Capital Management LLC

Weaver Capital Management LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 37.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,280 shares of the construction company’s stock after selling 1,340 shares during the period. Weaver Capital Management LLC’s holdings in Martin Marietta Materials were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AMG National Trust Bank lifted its position in shares of Martin Marietta Materials by 3.6% during the first quarter. AMG National Trust Bank now owns 495 shares of the construction company’s stock worth $291,000 after acquiring an additional 17 shares in the last quarter. AlTi Global Inc. boosted its holdings in shares of Martin Marietta Materials by 1.2% in the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company’s stock worth $881,000 after acquiring an additional 18 shares during the period. Meeder Asset Management Inc. grew its position in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Castle Wealth Management LLC grew its position in shares of Martin Marietta Materials by 2.2% in the first quarter. Castle Wealth Management LLC now owns 1,082 shares of the construction company’s stock valued at $637,000 after purchasing an additional 23 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in shares of Martin Marietta Materials by 5.1% in the first quarter. Fulton Bank N.A. now owns 492 shares of the construction company’s stock valued at $290,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MLM. Morgan Stanley decreased their price objective on Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Truist Financial cut their target price on Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Wolfe Research set a $648.00 target price on Martin Marietta Materials in a report on Tuesday, August 4th. Weiss Ratings lowered Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 3rd. Finally, Royal Bank Of Canada decreased their price target on Martin Marietta Materials from $620.00 to $530.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $644.71.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $492.17 on Friday. Martin Marietta Materials, Inc. has a 1 year low of $464.92 and a 1 year high of $710.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.41 and a quick ratio of 0.73. The stock has a market capitalization of $29.56 billion, a PE ratio of 12.09, a P/E/G ratio of 2.24 and a beta of 1.08. The company’s 50 day simple moving average is $508.14 and its two-hundred day simple moving average is $557.58.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, beating the consensus estimate of $4.76 by $0.24. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $5.43 EPS. Analysts predict that Martin Marietta Materials, Inc. will post 17.77 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, September 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 8.26%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc is a producer and supplier of construction materials used in infrastructure, commercial, residential, and industrial projects. The company’s principal products include crushed stone, sand, gravel, cement, ready-mixed concrete, asphalt, and related paving materials.

The company serves customers primarily across the United States, with operations concentrated in major markets experiencing demand for transportation infrastructure, building construction, and other development projects.