M&T Bank Corp Has $10.99 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

M&T Bank Corp cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 14.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,427 shares of the construction company's stock after selling 3,376 shares during the period. M&T Bank Corp's holdings in Martin Marietta Materials were worth $10,994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MLM. Kovack Advisors Inc. acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $734,000. Benjamin Edwards Inc. increased its holdings in Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company's stock valued at $741,000 after buying an additional 1,322 shares during the last quarter. D.A. Davidson & CO. raised its stake in Martin Marietta Materials by 8.5% during the third quarter. D.A. Davidson & CO. now owns 12,936 shares of the construction company's stock valued at $6,963,000 after buying an additional 1,014 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock worth $252,318,000 after buying an additional 11,749 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC increased its holdings in shares of Martin Marietta Materials by 2.2% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 193,588 shares of the construction company's stock valued at $104,199,000 after acquiring an additional 4,080 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BNP Paribas lowered shares of Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a "buy" rating and a $730.00 price target for the company. StockNews.com upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Monday, December 2nd. Jefferies Financial Group decreased their target price on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. Finally, Loop Capital upped their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $655.77.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $2.89 on Thursday, hitting $557.29. The company had a trading volume of 280,960 shares, compared to its average volume of 444,452. Martin Marietta Materials, Inc. has a 52 week low of $478.53 and a 52 week high of $633.23. The company has a market cap of $34.06 billion, a PE ratio of 17.37, a PEG ratio of 3.94 and a beta of 0.89. The business has a 50-day simple moving average of $578.63 and a 200-day simple moving average of $555.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly 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). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business posted $6.94 earnings per share. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts expect that Martin Marietta Materials, Inc. will post 17.58 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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 paid a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. Martin Marietta Materials's dividend payout ratio is currently 9.85%.

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.