Angeles Investment Advisors LLC Has $640,000 Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Angeles Investment Advisors LLC lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 15.5% during the third quarter, HoldingsChannel reports. The firm owned 1,189 shares of the construction company’s stock after selling 218 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLM. Principal Financial Group Inc. grew its stake in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after purchasing an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Martin Marietta Materials by 114.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after acquiring an additional 523,038 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Martin Marietta Materials by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 623,681 shares of the construction company’s stock worth $337,903,000 after acquiring an additional 12,759 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after acquiring an additional 164,503 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Martin Marietta Materials by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after acquiring an additional 11,749 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 0.4 %

Shares of NYSE MLM traded up $2.49 during trading on Wednesday, reaching $609.28. The company had a trading volume of 8,856 shares, compared to its average volume of 445,353. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. 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’s fifty day moving average price is $550.70 and its 200-day moving average price is $556.45. The stock has a market cap of $37.24 billion, a P/E ratio of 18.91, a PEG ratio of 4.12 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) 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 net margin of 30.47% and a return on equity of 12.53%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company earned $6.94 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.52%. Martin Marietta Materials’s payout ratio is 9.85%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MLM shares. Stephens dropped their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Morgan Stanley lifted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price target on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.85.

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.