Pitcairn Co. Sells 81 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Pitcairn Co. cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 891 shares of the construction company’s stock after selling 81 shares during the quarter. Pitcairn Co.’s holdings in Martin Marietta Materials were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its holdings in shares of Martin Marietta Materials by 411.1% during the 2nd 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 in the last quarter. Asset Dedication LLC lifted its position in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services bought a new stake in Martin Marietta Materials during the third quarter worth about $33,000. Fortitude Family Office LLC grew its holdings 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 worth $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC bought a new position in shares of Martin Marietta Materials during the first quarter valued at approximately $41,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Down 1.2 %

NYSE:MLM opened at $596.93 on Wednesday. The company has a market cap of $36.48 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. 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 company has a 50 day simple moving average of $567.95 and a two-hundred day simple moving average of $556.08. Martin Marietta Materials, Inc. has a 12 month low of $456.83 and a 12 month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data 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 return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $6.94 EPS. The business’s revenue was down 5.3% on a year-over-year basis. Research analysts forecast that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Analyst Ratings Changes

A number of analysts have recently commented on MLM shares. Barclays boosted their price target on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Finally, UBS Group began coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. 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. According to data from MarketBeat, the stock has a consensus 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.