Smithfield Trust Co Cuts Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Smithfield Trust Co lowered its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 21.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 175 shares of the construction company’s stock after selling 47 shares during the period. Smithfield Trust Co’s holdings in Martin Marietta Materials were worth $91,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MLM. Newbridge Financial Services Group Inc. increased its stake in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares during the period. Asset Dedication LLC grew its stake in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services purchased a new position in Martin Marietta Materials in the third quarter valued at about $33,000. Fortitude Family Office LLC grew its stake in Martin Marietta Materials by 186.4% in the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after purchasing an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Martin Marietta Materials in the first quarter valued at about $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.1 %

Shares of MLM stock opened at $591.87 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a market cap of $36.18 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 3.89 and a beta of 0.90. The stock has a 50 day simple moving average of $562.13 and a 200-day simple moving average of $556.52. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for 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 company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.94 earnings per share. On average, equities research analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current fiscal 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 paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MLM shares. Truist Financial cut their target price on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup dropped their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Stephens dropped their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $634.85.

Martin Marietta Materials Company 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.