Janney Montgomery Scott LLC Has $5.25 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Janney Montgomery Scott LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 65.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,758 shares of the construction company's stock after selling 18,245 shares during the period. Janney Montgomery Scott LLC's holdings in Martin Marietta Materials were worth $5,253,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Peak Financial Advisors LLC bought a new position in Martin Marietta Materials in the 2nd quarter valued at $2,710,000. TD Asset Management Inc boosted its position in Martin Marietta Materials by 4.4% in the 1st quarter. TD Asset Management Inc now owns 147,963 shares of the construction company's stock valued at $90,840,000 after buying an additional 6,263 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Martin Marietta Materials by 8.1% in the 1st quarter. Russell Investments Group Ltd. now owns 74,259 shares of the construction company's stock valued at $45,545,000 after buying an additional 5,576 shares during the last quarter. M&G Plc bought a new position in Martin Marietta Materials in the 1st quarter valued at $41,142,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Martin Marietta Materials by 35.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company's stock valued at $2,359,000 after buying an additional 1,003 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 0.4 %

NYSE:MLM traded up $2.42 during trading hours on Friday, hitting $619.58. 402,853 shares of the company were exchanged, compared to its average volume of 466,622. The stock has a market capitalization of $37.87 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth 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. The company has a fifty day simple moving average of $549.06 and a 200 day simple moving average of $556.31.

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 return on equity of 12.53% and a net margin of 30.47%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $6.94 earnings per share. The business's revenue was down 5.3% on a year-over-year basis. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal 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 $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.

Wall Street Analyst Weigh In

MLM has been the topic of a number of recent research reports. UBS Group initiated coverage on Martin Marietta Materials in a research report on Thursday. They issued a "buy" rating and a $730.00 price objective on the stock. Barclays lifted their price objective 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. JPMorgan Chase & Co. decreased their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. StockNews.com raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Friday. Finally, Citigroup decreased their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a "buy" rating for the company in a research note on Monday, August 12th. Four equities research 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $634.85.

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.