1,264 Martin Marietta Materials, Inc. $MLM Shares Sold by Third View Private Wealth LLC

Third View Private Wealth LLC trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 32.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,597 shares of the construction company’s stock after selling 1,264 shares during the quarter. Third View Private Wealth LLC’s holdings in Martin Marietta Materials were worth $1,246,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Nebraska Trust Co acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $292,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Martin Marietta Materials during the 3rd quarter worth approximately $8,092,000. ProShare Advisors LLC increased its holdings in Martin Marietta Materials by 2.2% during the 3rd quarter. ProShare Advisors LLC now owns 11,515 shares of the construction company’s stock valued at $5,525,000 after purchasing an additional 249 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in Martin Marietta Materials during the 3rd quarter valued at $296,000. Finally, State of Wyoming increased its holdings in Martin Marietta Materials by 31.3% during the 3rd quarter. State of Wyoming now owns 2,317 shares of the construction company’s stock valued at $1,112,000 after purchasing an additional 552 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Zacks Research downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. UBS Group decreased their target price on Martin Marietta Materials from $715.00 to $662.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. HSBC lowered their target price on Martin Marietta Materials from $750.00 to $665.00 and set a “buy” rating for the company in a research note on Tuesday, September 8th. Truist Financial cut their price target on Martin Marietta Materials from $730.00 to $625.00 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, Wolfe Research set a $648.00 price target on shares of Martin Marietta Materials in a research report on Tuesday, August 4th. Fifteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $642.05.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $544.16 on Wednesday. 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 firm has a market cap of $32.69 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.86 and a beta of 1.02. The firm has a 50 day simple moving average of $502.86 and a 200 day simple moving average of $575.04. Martin Marietta Materials, Inc. has a fifty-two week low of $464.92 and a fifty-two week high of $710.97.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.36 annualized dividend and a yield of 0.6%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 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.