Centiva Capital LP Trims Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Centiva Capital LP lessened its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 28.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,402 shares of the construction company's stock after selling 2,104 shares during the period. Centiva Capital LP's holdings in Martin Marietta Materials were worth $2,908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its stake in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company's stock worth $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC increased its stake in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company's stock worth $30,000 after buying an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the third quarter valued at approximately $33,000. Fortitude Family Office LLC lifted its stake in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company's stock worth $34,000 after acquiring an additional 41 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in Martin Marietta Materials during the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded down $6.06 during midday trading on Tuesday, reaching $587.16. 217,435 shares of the company were exchanged, compared to its average volume of 444,823. The stock has a market cap of $35.89 billion, a P/E ratio of 18.49, a PEG ratio of 4.07 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $456.83 and a 1 year high of $633.23. The stock has a fifty day simple moving average of $572.14 and a 200 day simple moving average of $555.91. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 business 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%. The company's revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.94 EPS. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MLM. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Loop Capital upped their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Monday. Morgan Stanley boosted their target price 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, Barclays increased their price target on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $644.46.

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.