Commerce Bank Has $1.40 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Commerce Bank lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,599 shares of the construction company’s stock after selling 127 shares during the period. Commerce Bank’s holdings in Martin Marietta Materials were worth $1,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CreativeOne Wealth LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth $204,000. Interval Partners LP boosted its stake in shares of Martin Marietta Materials by 117.4% in the 1st quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock valued at $58,822,000 after purchasing an additional 51,749 shares during the last quarter. Ancora Advisors LLC grew its position in shares of Martin Marietta Materials by 25.1% during the 1st quarter. Ancora Advisors LLC now owns 8,603 shares of the construction company’s stock worth $5,282,000 after buying an additional 1,726 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Martin Marietta Materials by 17.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock worth $3,866,000 after buying an additional 952 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Martin Marietta Materials by 14.0% during the first quarter. Tidal Investments LLC now owns 3,632 shares of the construction company’s stock worth $2,230,000 after buying an additional 445 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MLM has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Stephens cut their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Citigroup lowered their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Loop Capital increased their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Stock Up 1.2 %

MLM stock opened at $597.81 on Monday. Martin Marietta Materials, Inc. has a twelve month low of $456.83 and a twelve month high of $633.23. The company has a market cap of $36.54 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 3.95 and a beta of 0.90. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $565.21 and a two-hundred day moving average price of $556.45.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.94 earnings per share. Analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is 9.85%.

About Martin Marietta Materials

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.