Sanctuary Advisors LLC Grows Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Sanctuary Advisors LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 18.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,220 shares of the construction company's stock after buying an additional 1,286 shares during the quarter. Sanctuary Advisors LLC's holdings in Martin Marietta Materials were worth $4,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of 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 worth $876,648,000 after buying an additional 704,460 shares in the last quarter. FMR LLC grew its stake in Martin Marietta Materials by 15.3% in the 3rd quarter. FMR LLC now owns 2,515,441 shares of the construction company's stock valued at $1,353,936,000 after buying an additional 334,605 shares in the last quarter. Public Sector Pension Investment Board grew its stake in Martin Marietta Materials by 7,608.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 181,373 shares of the construction company's stock valued at $97,624,000 after buying an additional 179,020 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 54.2% in 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, The Manufacturers Life Insurance Company grew its position in shares of Martin Marietta Materials by 247.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company's stock valued at $80,634,000 after purchasing an additional 106,002 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded down $3.62 during trading hours on Monday, reaching $547.30. 337,270 shares of the company's stock were exchanged, compared to its average volume of 443,401. Martin Marietta Materials, Inc. has a 1 year low of $479.67 and a 1 year high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $579.17 and a two-hundred day moving average of $555.61. The company has a market capitalization of $33.45 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89.

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). 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business earned $6.94 EPS. Martin Marietta Materials's revenue was down 5.3% compared to the same quarter last year. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials's payout ratio is 9.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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. Barclays increased their target price 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. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a research note on Monday, August 26th. Loop Capital raised their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, 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. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.