Martin Marietta Materials, Inc. (NYSE:MLM) Position Reduced by Confluence Investment Management LLC

Confluence Investment Management LLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,209 shares of the construction company's stock after selling 1,045 shares during the period. Confluence Investment Management LLC owned approximately 0.11% of Martin Marietta Materials worth $34,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 76.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company's stock valued at $876,648,000 after buying an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Martin Marietta Materials by 114.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company's stock worth $602,092,000 after acquiring an additional 523,038 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Martin Marietta Materials by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock worth $337,903,000 after purchasing an additional 12,759 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 worth $252,318,000 after purchasing an additional 11,749 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Martin Marietta Materials by 1.0% during the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company's stock worth $203,073,000 after purchasing an additional 3,598 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

MLM traded up $2.39 on Friday, reaching $619.55. The company had a trading volume of 402,753 shares, compared to its average volume of 466,622. The company has a fifty day moving average of $549.06 and a 200-day moving average of $556.83. The company has a market capitalization of $37.87 billion, a P/E ratio of 19.31, a PEG ratio of 4.12 and a beta of 0.90. 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, Inc. has a one year low of $448.73 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $6.94 EPS. The business's revenue for the quarter was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. Martin Marietta Materials's dividend payout ratio (DPR) is 9.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLM. Barclays boosted 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 report on Tuesday, October 29th. Jefferies Financial Group reduced their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Citigroup reduced their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating for the company in a report on Monday, August 12th. Stephens reduced their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $634.85.

Martin Marietta Materials Company 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.