Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 29.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,668 shares of the construction company's stock after selling 9,324 shares during the quarter. Toronto Dominion Bank's holdings in Martin Marietta Materials were worth $12,201,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC increased its stake in Martin Marietta Materials by 17.4% in the second quarter. Dynamic Advisor Solutions LLC now owns 431 shares of the construction company's stock valued at $234,000 after purchasing an additional 64 shares during the last quarter. Swedbank AB purchased a new position in shares of Martin Marietta Materials during the 2nd quarter worth about $444,000. Blue Trust Inc. boosted its position in shares of Martin Marietta Materials by 614.3% in the second quarter. Blue Trust Inc. now owns 200 shares of the construction company's stock worth $108,000 after acquiring an additional 172 shares during the last quarter. Brookstone Capital Management grew its holdings in Martin Marietta Materials by 16.8% in the second quarter. Brookstone Capital Management now owns 1,048 shares of the construction company's stock valued at $591,000 after purchasing an additional 151 shares during the period. Finally, Fifth Third Bancorp increased its position in Martin Marietta Materials by 103.5% during the second quarter. Fifth Third Bancorp now owns 4,165 shares of the construction company's stock worth $2,257,000 after purchasing an additional 2,118 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MLM shares. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. BNP Paribas lowered Martin Marietta Materials from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. HSBC raised Martin Marietta Materials from a "hold" rating to a "buy" rating and set a $690.00 price objective on the stock in a research note on Wednesday. Finally, Morgan Stanley increased their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an "overweight" rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $655.77.

Martin Marietta Materials Stock Down 1.1 %

Shares of NYSE MLM traded down $5.90 during trading on Friday, reaching $550.92. 297,362 shares of the stock were exchanged, compared to its average volume of 443,841. The company has a market capitalization of $33.67 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89. The business's 50-day moving average price is $579.17 and its 200 day moving average price is $555.67. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a twelve month low of $479.67 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.53% and a net margin of 30.47%. The business's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.94 EPS. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.58 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 9.85%.

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.