Pitcairn Co. Sells 81 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Pitcairn Co. lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 891 shares of the construction company’s stock after selling 81 shares during the period. Pitcairn Co.’s holdings in Martin Marietta Materials were worth $480,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. B. Riley Wealth Advisors Inc. grew its stake in shares of Martin Marietta Materials by 17.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,297 shares of the construction company’s stock valued at $3,866,000 after acquiring an additional 952 shares during the period. Tidal Investments LLC boosted its position in shares of Martin Marietta Materials by 14.0% in the first quarter. Tidal Investments LLC now owns 3,632 shares of the construction company’s stock worth $2,230,000 after purchasing an additional 445 shares during the period. Wahed Invest LLC increased its stake in shares of Martin Marietta Materials by 15.1% in the first quarter. Wahed Invest LLC now owns 1,210 shares of the construction company’s stock worth $743,000 after purchasing an additional 159 shares in the last quarter. Strategic Wealth Partners Ltd. bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $298,000. Finally, Virtu Financial LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at $819,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group assumed coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley boosted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Barclays upped their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group reduced their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM opened at $596.93 on Wednesday. The firm has a fifty day simple moving average of $567.95 and a two-hundred day simple moving average of $556.08. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52 week low of $456.83 and a 52 week high of $633.23. The stock has a market capitalization of $36.48 billion, a P/E ratio of 18.60, a PEG ratio of 4.05 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm posted $6.94 EPS. Martin Marietta Materials’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts expect that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

Martin Marietta Materials Profile

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.