Oak Thistle LLC Sells 311 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Oak Thistle LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,052 shares of the construction company’s stock after selling 311 shares during the quarter. Oak Thistle LLC’s holdings in Martin Marietta Materials were worth $543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Edgestream Partners L.P. acquired a new position in Martin Marietta Materials during the second quarter valued at approximately $673,000. Meiji Yasuda Life Insurance Co increased its stake in shares of Martin Marietta Materials by 3.0% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock valued at $368,000 after purchasing an additional 20 shares during the last quarter. Argent Trust Co raised its holdings in shares of Martin Marietta Materials by 14.8% during the 2nd quarter. Argent Trust Co now owns 3,636 shares of the construction company’s stock worth $1,970,000 after buying an additional 470 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Martin Marietta Materials by 239.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,152 shares of the construction company’s stock worth $3,333,000 after buying an additional 4,337 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Martin Marietta Materials by 6.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,964 shares of the construction company’s stock valued at $2,655,000 after buying an additional 284 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $530.94 on Friday. The company has a market capitalization of $32.45 billion, a PE ratio of 16.55, a P/E/G ratio of 2.97 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $489.90 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34. The company has a 50 day simple moving average of $557.47 and a two-hundred day simple moving average of $550.78.

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 analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.94 EPS. Research analysts anticipate that Martin Marietta Materials, Inc. will post 17.6 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $0.79 per share. The ex-dividend date was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.60%. Martin Marietta Materials’s payout ratio is 9.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MLM shares. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a report on Wednesday, January 8th. Barclays increased their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Morgan Stanley reduced their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $648.71.

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.