Gateway Investment Advisers LLC Sells 1,191 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Gateway Investment Advisers LLC trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,434 shares of the construction company's stock after selling 1,191 shares during the quarter. Gateway Investment Advisers LLC owned 0.09% of Martin Marietta Materials worth $27,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Franklin Street Advisors Inc. NC increased its position in shares of Martin Marietta Materials by 15.5% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company's stock worth $13,037,000 after purchasing an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Martin Marietta Materials by 18.5% during the third quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company's stock worth $4,914,000 after buying an additional 1,286 shares in the last quarter. Kovack Advisors Inc. bought a new position in shares of Martin Marietta Materials in the third quarter valued at approximately $734,000. Benjamin Edwards Inc. boosted its holdings in shares of Martin Marietta Materials by 2,448.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock worth $741,000 after acquiring an additional 1,322 shares in the last quarter. Finally, RMR Wealth Builders grew its position in Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company's stock worth $1,235,000 after acquiring an additional 1,941 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MLM shares. Morgan Stanley cut their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. HSBC raised Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price target for the company in a report on Wednesday, December 11th. Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, BNP Paribas lowered shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average target price of $648.71.

Martin Marietta Materials Trading Up 2.3 %

Shares of Martin Marietta Materials stock traded up $12.10 during trading on Friday, reaching $543.33. 371,416 shares of the company were exchanged, compared to its average volume of 361,911. The business has a 50-day moving average price of $557.47 and a 200-day moving average price of $550.78. The firm has a market capitalization of $33.21 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 2.97 and a beta of 0.91. 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 twelve month low of $490.05 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company 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%. Martin Marietta Materials's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.94 earnings per share. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 17.6 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.

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.