Confluence Investment Management LLC Sells 1,067 Shares of Martin Marietta Materials, Inc. $MLM

Confluence Investment Management LLC cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 61,391 shares of the construction company’s stock after selling 1,067 shares during the period. Confluence Investment Management LLC’s holdings in Martin Marietta Materials were worth $38,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management increased its position in shares of Martin Marietta Materials by 3.0% during the third quarter. OFI Invest Asset Management now owns 55,757 shares of the construction company’s stock valued at $35,143,000 after acquiring an additional 1,622 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Martin Marietta Materials by 65.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 617 shares of the construction company’s stock valued at $389,000 after purchasing an additional 243 shares during the last quarter. Brighton Jones LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at $269,000. Thomasville National Bank bought a new stake in shares of Martin Marietta Materials in the 3rd quarter worth $270,000. Finally, Douglas Lane & Associates LLC raised its stake in shares of Martin Marietta Materials by 2.8% in the third quarter. Douglas Lane & Associates LLC now owns 42,703 shares of the construction company’s stock worth $26,915,000 after purchasing an additional 1,145 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.2%

Shares of NYSE:MLM opened at $632.52 on Tuesday. The stock’s 50-day simple moving average is $618.44 and its two-hundred day simple moving average is $600.11. The stock has a market capitalization of $38.15 billion, a price-to-earnings ratio of 33.34 and a beta of 1.16. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $665.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.07 and a current ratio of 2.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st will be given a $0.83 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.50%.

Analyst Ratings Changes

Several research firms recently commented on MLM. Raymond James Financial increased their price objective on Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Martin Marietta Materials in a research note on Wednesday, October 8th. DA Davidson set a $690.00 price objective on shares of Martin Marietta Materials in a report on Thursday, November 6th. Finally, Jefferies Financial Group increased their price objective on shares of Martin Marietta Materials from $725.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $652.19.

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.