Sei Investments Co. Sells 5,342 Shares of Martin Marietta Materials, Inc. $MLM

Sei Investments Co. trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,772 shares of the construction company’s stock after selling 5,342 shares during the period. Sei Investments Co. owned about 0.24% of Martin Marietta Materials worth $85,814,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Optima Capital LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $25,000. Meeder Asset Management Inc. grew its position in Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after buying an additional 19 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $31,000. Reflection Asset Management bought a new position in Martin Marietta Materials during the fourth quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. bought a new position in Martin Marietta Materials during the second quarter valued at about $37,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.5%

Shares of NYSE:MLM opened at $560.71 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The company’s 50-day moving average price is $575.98 and its two-hundred day moving average price is $610.19. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The firm has a market cap of $33.67 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.32 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s dividend payout ratio is currently 7.91%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MLM shares. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a report on Thursday, April 2nd. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings raised Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Oppenheimer assumed coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Morgan Stanley decreased their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $681.53.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.