Martin Marietta Materials, Inc. (NYSE:MLM) Stock Position Lowered by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 30.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,001 shares of the construction company’s stock after selling 443 shares during the period. OneDigital Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $539,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Avantax Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the first quarter valued at $276,000. O Shaughnessy Asset Management LLC lifted its position in Martin Marietta Materials by 35.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock worth $2,359,000 after buying an additional 1,003 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Martin Marietta Materials by 7.3% during the 1st quarter. Bessemer Group Inc. now owns 4,670 shares of the construction company’s stock valued at $2,868,000 after buying an additional 319 shares during the period. Lake Street Advisors Group LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at $276,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Martin Marietta Materials by 2.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 31,070 shares of the construction company’s stock worth $19,072,000 after acquiring an additional 734 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Up 0.4 %

MLM stock opened at $585.26 on Thursday. Martin Marietta Materials, Inc. has a 1-year low of $456.83 and a 1-year high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $560.58 and its 200-day moving average is $556.31. The firm has a market cap of $35.77 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.90 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $6.94 earnings per share. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company 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 $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on MLM shares. JPMorgan Chase & Co. reduced their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. UBS Group began coverage on Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective on the stock. Truist Financial dropped their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Loop Capital upped their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $634.85.

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.