MML Investors Services LLC Sells 1,187 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

MML Investors Services LLC lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,117 shares of the construction company's stock after selling 1,187 shares during the period. MML Investors Services LLC's holdings in Martin Marietta Materials were worth $4,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in MLM. FMR LLC increased its position in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock worth $1,353,936,000 after purchasing an additional 334,605 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 worth $876,648,000 after buying an additional 704,460 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Martin Marietta Materials by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company's stock worth $337,903,000 after buying an additional 12,759 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company's stock valued at $251,784,000 after buying an additional 164,503 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Martin Marietta Materials by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company's stock valued at $252,318,000 after acquiring an additional 11,749 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Down 1.1 %

MLM traded down $5.90 during trading on Friday, hitting $550.92. 297,362 shares of the stock were exchanged, compared to its average volume of 443,841. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The firm has a 50 day simple moving average of $579.17 and a 200 day simple moving average of $555.67. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 3.80 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $479.67 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 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 analysts' expectations of $1.94 billion. During the same quarter in the prior year, the business posted $6.94 EPS. The business's quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 17.58 EPS for the current 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 dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Martin Marietta Materials's dividend payout ratio is presently 9.85%.

Analyst Ratings Changes

A number of brokerages have issued reports on MLM. BNP Paribas downgraded Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. StockNews.com upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a research report on Monday, December 2nd. Barclays lifted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Hsbc Global Res raised shares of Martin Marietta Materials from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Finally, Loop Capital lifted their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $655.77.

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.