Stifel Financial Corp Sells 4,553 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Stifel Financial Corp lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,121 shares of the construction company's stock after selling 4,553 shares during the period. Stifel Financial Corp owned about 0.08% of Martin Marietta Materials worth $25,367,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC increased its holdings in Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company's stock worth $360,000 after purchasing an additional 18 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company's stock valued at $1,144,000 after acquiring an additional 19 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company's stock valued at $421,000 after acquiring an additional 19 shares in the last quarter. TFG Advisers LLC grew its holdings in shares of Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company's stock valued at $300,000 after acquiring an additional 20 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its holdings in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company's stock valued at $368,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the company an "overweight" rating in a report on Monday, August 26th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Jefferies Financial Group decreased their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Citigroup cut their target price on shares of 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. Finally, Barclays raised their target price 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. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus price target of $644.46.

Martin Marietta Materials Stock Performance

MLM stock traded down $6.48 during mid-day trading on Monday, hitting $574.70. 360,654 shares of the company were exchanged, compared to its average volume of 445,300. The business has a 50 day simple moving average of $575.82 and a 200-day simple moving average of $556.03. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $35.13 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 3.94 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1-year low of $468.48 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its 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 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 the consensus estimate of $1.94 billion. During the same period in the prior 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. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm 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 dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.55%. Martin Marietta Materials's dividend payout ratio 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.