Atria Investments Inc Sells 1,420 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Atria Investments Inc cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,935 shares of the construction company's stock after selling 1,420 shares during the period. Atria Investments Inc's holdings in Martin Marietta Materials were worth $6,424,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MLM. Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 76.2% during 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 purchasing an additional 704,460 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $602,092,000 after acquiring an additional 523,038 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Martin Marietta Materials by 247.5% during the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company's stock worth $80,634,000 after purchasing an additional 106,002 shares during the period. M&G Plc bought a new position in Martin Marietta Materials in the first quarter worth about $41,142,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Martin Marietta Materials by 682.5% during the third quarter. Assenagon Asset Management S.A. now owns 75,045 shares of the construction company's stock valued at $40,393,000 after purchasing an additional 65,454 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLM. Jefferies Financial Group lowered their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on shares of Martin Marietta Materials from $560.00 to $515.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Truist Financial dropped their price target 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. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a report on Monday, August 26th. Finally, Barclays increased their price objective 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. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $634.85.

Martin Marietta Materials Stock Down 1.5 %

Shares of NYSE MLM traded down $9.21 during trading hours on Tuesday, hitting $606.84. The stock had a trading volume of 312,324 shares, compared to its average volume of 447,346. The company has a market capitalization of $37.09 billion, a P/E ratio of 18.94, a P/E/G ratio of 4.14 and a beta of 0.90. The firm's 50-day moving average price is $550.70 and its two-hundred day moving average price is $556.45. Martin Marietta Materials, Inc. has a 52 week low of $451.37 and a 52 week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts' consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.94 earnings per share. Analysts anticipate 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 issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.

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.