Barclays PLC Sells 11,059 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Barclays PLC cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,882 shares of the construction company's stock after selling 11,059 shares during the quarter. Barclays PLC owned approximately 0.27% of Martin Marietta Materials worth $88,747,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MLM. FMR LLC boosted its position in shares of Martin Marietta Materials by 15.3% during the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock worth $1,353,936,000 after purchasing an additional 334,605 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock worth $876,648,000 after acquiring an additional 704,460 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Martin Marietta Materials by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock valued at $337,903,000 after acquiring an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 54.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company's stock valued at $251,784,000 after acquiring an additional 164,503 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock valued at $252,318,000 after acquiring an additional 11,749 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM stock traded down $2.89 during midday trading on Thursday, hitting $557.29. The company's stock had a trading volume of 280,960 shares, compared to its average volume of 444,452. The stock has a market cap of $34.06 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 3.94 and a beta of 0.89. 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 stock's 50-day moving average price is $578.63 and its 200 day moving average price is $555.97. Martin Marietta Materials, Inc. has a 1 year low of $478.53 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly 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). 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 period last year, the firm posted $6.94 earnings per share. Martin Marietta Materials's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is currently 9.85%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a "buy" rating and a $730.00 price target for the company. Barclays boosted their target price on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. HSBC upgraded Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target for the company in a research note on Wednesday. Morgan Stanley increased their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a research note on Monday, August 26th. Finally, BNP Paribas cut Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $655.77.

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.