Martin Marietta Materials, Inc. (NYSE:MLM) Holdings Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,547 shares of the construction company’s stock after selling 450 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Martin Marietta Materials were worth $6,481,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Franklin Street Advisors Inc. NC boosted its stake in Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after buying an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after purchasing an additional 1,286 shares during the last quarter. RMR Wealth Builders lifted its stake in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock valued at $1,235,000 after purchasing an additional 1,941 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in Martin Marietta Materials during the third quarter valued at approximately $734,000. Finally, Benjamin Edwards Inc. lifted its stake in Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock valued at $741,000 after purchasing an additional 1,322 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their target price for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. Truist Financial cut their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. HSBC raised Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a research report on Wednesday, December 11th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target on the stock. Finally, Citigroup reduced their price target on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.43.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $483.06 on Friday. The company’s 50 day moving average price is $526.15 and its 200 day moving average price is $545.66. Martin Marietta Materials, Inc. has a 52 week low of $475.10 and a 52 week high of $633.23. The company has a market capitalization of $29.52 billion, a PE ratio of 14.94, a PEG ratio of 4.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is presently 9.77%.

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.