Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 19.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,144 shares of the construction company’s stock after selling 1,500 shares during the period. Martin Marietta Materials accounts for about 1.1% of MADDEN SECURITIES Corp’s holdings, making the stock its 27th biggest position. MADDEN SECURITIES Corp’s holdings in Martin Marietta Materials were worth $2,076,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quantitative Investment Management LLC acquired a new position in Martin Marietta Materials in the 3rd quarter valued at $451,000. Canada Pension Plan Investment Board raised its holdings in Martin Marietta Materials by 30.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 109,988 shares of the construction company’s stock valued at $35,426,000 after acquiring an additional 25,460 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in Martin Marietta Materials by 38.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 533 shares of the construction company’s stock valued at $172,000 after acquiring an additional 147 shares during the last quarter. Blair William & Co. IL raised its holdings in Martin Marietta Materials by 10.3% in the 3rd quarter. Blair William & Co. IL now owns 9,986 shares of the construction company’s stock valued at $3,216,000 after acquiring an additional 933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Martin Marietta Materials by 1.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 36,119 shares of the construction company’s stock valued at $11,634,000 after acquiring an additional 545 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 3.2 %

NYSE:MLM traded down $10.62 on Friday, reaching $320.60. The stock had a trading volume of 579,156 shares, compared to its average volume of 381,309. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $354.03 and a 200 day moving average of $344.87. The stock has a market cap of $19.91 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.74 and a beta of 0.87. Martin Marietta Materials, Inc. has a 12-month low of $284.99 and a 12-month high of $406.85.

Martin Marietta Materials (NYSE:MLM – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The construction company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Martin Marietta Materials had a net margin of 14.07% and a return on equity of 11.03%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.15 EPS. On average, research analysts predict that Martin Marietta Materials, Inc. will post 14.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 6th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $2.64 annualized dividend and a dividend yield of 0.82%. Martin Marietta Materials’s payout ratio is 19.02%.

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $400.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, December 19th. Raymond James upped their price objective on Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $410.00 to $395.00 in a report on Thursday, December 8th. Seaport Res Ptn restated a “neutral” rating on shares of Martin Marietta Materials in a report on Friday, February 10th. Finally, Citigroup upped their price objective on Martin Marietta Materials from $385.00 to $406.00 in a report on Tuesday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $404.50.

Martin Marietta Materials Profile

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.