Douglas Lane & Associates LLC Sells 476 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Douglas Lane & Associates LLC lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 34,436 shares of the construction company’s stock after selling 476 shares during the quarter. Douglas Lane & Associates LLC owned 0.06% of Martin Marietta Materials worth $17,786,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MLM. Victory Capital Management Inc. increased its position in shares of Martin Marietta Materials by 4.8% during the 2nd quarter. Victory Capital Management Inc. now owns 35,785 shares of the construction company’s stock valued at $19,388,000 after purchasing an additional 1,637 shares during the last quarter. Candriam S.C.A. increased its stake in Martin Marietta Materials by 10.0% in the second quarter. Candriam S.C.A. now owns 4,779 shares of the construction company’s stock worth $2,589,000 after purchasing an additional 436 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of Martin Marietta Materials by 7.8% during the second quarter. Lake Street Advisors Group LLC now owns 484 shares of the construction company’s stock worth $262,000 after purchasing an additional 35 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Martin Marietta Materials during the second quarter valued at $162,000. Finally, Quest Partners LLC boosted its stake in shares of Martin Marietta Materials by 5,856.3% during the second quarter. Quest Partners LLC now owns 953 shares of the construction company’s stock valued at $516,000 after purchasing an additional 937 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.0 %

Shares of Martin Marietta Materials stock traded up $10.21 during trading on Wednesday, reaching $518.86. The company’s stock had a trading volume of 238,402 shares, compared to its average volume of 364,263. Martin Marietta Materials, Inc. has a 1-year low of $488.30 and a 1-year high of $633.23. The company has a 50-day simple moving average of $568.26 and a two-hundred day simple moving average of $551.88. 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 company has a market cap of $31.71 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.94 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Analysts Set New Price Targets

MLM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Morgan Stanley dropped their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Citigroup decreased their target price on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday. Jefferies Financial Group dropped their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays lifted their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $643.36.

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.