Martin Marietta Materials, Inc. $MLM Stock Sold by One Way Holdings LLC

One Way Holdings LLC lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 98.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 489 shares of the construction company’s stock after selling 26,815 shares during the period. One Way Holdings LLC’s holdings in Martin Marietta Materials were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MLM. Mirae Asset Global Investments Co. Ltd. acquired a new position in Martin Marietta Materials during the 3rd quarter valued at about $8,092,000. ProShare Advisors LLC grew its position in Martin Marietta Materials by 2.2% in the 3rd quarter. ProShare Advisors LLC now owns 11,515 shares of the construction company’s stock worth $5,525,000 after purchasing an additional 249 shares during the last quarter. Moss Adams Wealth Advisors LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth about $296,000. State of Wyoming grew its position in Martin Marietta Materials by 31.3% in the 3rd quarter. State of Wyoming now owns 2,317 shares of the construction company’s stock worth $1,112,000 after purchasing an additional 552 shares during the last quarter. Finally, North Dakota State Investment Board increased its stake in shares of Martin Marietta Materials by 2.6% in the third quarter. North Dakota State Investment Board now owns 1,829 shares of the construction company’s stock valued at $878,000 after purchasing an additional 46 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MLM shares. Sanford C. Bernstein cut Martin Marietta Materials to an “underweight” rating in a report on Wednesday, September 2nd. Stephens reduced their price objective on Martin Marietta Materials from $680.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Stifel Nicolaus decreased their price objective on Martin Marietta Materials from $634.00 to $629.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Raymond James Financial lowered their target price on Martin Marietta Materials from $660.00 to $640.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Finally, Truist Financial lowered their target price on Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Fifteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $642.05.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $552.45 on Tuesday. The company has a 50-day moving average of $502.64 and a 200-day moving average of $575.51. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.65 and a beta of 1.08. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a twelve month low of $464.92 and a twelve month high of $710.97.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a dividend of $0.84 per share. The ex-dividend date was Tuesday, September 1st. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is 8.26%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company’s primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.