Sequoia Financial Advisors LLC Sells 2,098 Shares of Martin Marietta Materials, Inc. $MLM

Sequoia Financial Advisors LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.9% in the first quarter, HoldingsChannel reports. The fund owned 10,326 shares of the construction company’s stock after selling 2,098 shares during the period. Sequoia Financial Advisors LLC’s holdings in Martin Marietta Materials were worth $6,079,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Gradient Investments LLC raised its holdings in Martin Marietta Materials by 9.7% in the 4th quarter. Gradient Investments LLC now owns 44,209 shares of the construction company’s stock worth $27,527,000 after purchasing an additional 3,903 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Martin Marietta Materials by 14,332.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company’s stock valued at $48,438,000 after buying an additional 77,253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Martin Marietta Materials by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 411,482 shares of the construction company’s stock worth $259,344,000 after buying an additional 5,038 shares in the last quarter. SG Americas Securities LLC raised its stake in Martin Marietta Materials by 66.7% in the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company’s stock worth $5,801,000 after buying an additional 3,728 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company’s stock worth $7,318,000 after buying an additional 1,778 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM opened at $578.00 on Monday. The firm has a market cap of $34.71 billion, a PE ratio of 13.78, a P/E/G ratio of 2.46 and a beta of 1.10. The stock has a 50-day moving average price of $581.94 and a 200-day moving average price of $615.23. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.38 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were issued a dividend of $0.83 per share. The ex-dividend date was Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is presently 7.91%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MLM. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Royal Bank Of Canada dropped their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research report on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Martin Marietta Materials in a research note on Monday, June 29th. Wells Fargo & Company increased their price objective on Martin Marietta Materials from $614.00 to $616.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, UBS Group set a $739.00 price objective on Martin Marietta Materials in a research report on Sunday, May 10th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $682.41.

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.