Bank of New York Mellon Corp Sells 4,337 Shares of Martin Marietta Materials, Inc. $MLM

Bank of New York Mellon Corp trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 390,022 shares of the construction company’s stock after selling 4,337 shares during the quarter. Bank of New York Mellon Corp’s holdings in Martin Marietta Materials were worth $245,823,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MLM. Quent Capital LLC acquired a new position in Martin Marietta Materials during the third quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the 2nd quarter worth approximately $28,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $33,000. NewSquare Capital LLC raised its stake in Martin Marietta Materials by 62.2% in the 2nd quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after acquiring an additional 23 shares during the period. Finally, Clearstead Trust LLC raised its stake in Martin Marietta Materials by 93.8% in the 2nd quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock valued at $34,000 after acquiring an additional 30 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on MLM shares. DA Davidson reiterated a “neutral” rating and issued a $690.00 price objective on shares of Martin Marietta Materials in a report on Wednesday, January 14th. Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. increased their price target on shares of Martin Marietta Materials from $670.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Raymond James Financial raised their price objective on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Barclays upped their target price on Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $676.63.

Martin Marietta Materials Stock Up 0.3%

Shares of MLM opened at $652.22 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.07 and a debt-to-equity ratio of 0.54. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $668.83. The firm’s 50 day moving average is $634.03 and its 200-day moving average is $617.51. The stock has a market capitalization of $39.34 billion, a PE ratio of 34.38 and a beta of 1.15.

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

Martin Marietta Materials Announces Dividend

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

Martin Marietta Materials Company Profile

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.