D.A. Davidson & CO. Cuts Stake in Martin Marietta Materials, Inc. $MLM

D.A. Davidson & CO. lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,435 shares of the construction company’s stock after selling 900 shares during the quarter. D.A. Davidson & CO.’s holdings in Martin Marietta Materials were worth $7,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Optima Capital LLC purchased a new position in Martin Marietta Materials during the 4th quarter valued at $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Martin Marietta Materials during the third quarter worth $27,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth $31,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Martin Marietta Materials during the fourth quarter valued at $36,000. Finally, Reflection Asset Management bought a new position in shares of Martin Marietta Materials in the fourth quarter worth about $35,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Down 2.3%

Shares of NYSE:MLM opened at $563.57 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The business has a fifty day moving average of $578.36 and a two-hundred day moving average of $612.91. The stock has a market cap of $33.84 billion, a P/E ratio of 13.43, a PEG ratio of 2.46 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.34 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays lowered their target price on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Wells Fargo & Company upped their price objective on shares of Martin Marietta Materials from $614.00 to $616.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Oppenheimer initiated coverage on shares of Martin Marietta Materials in a report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, Truist Financial upped their price target on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $681.53.

Martin Marietta Materials 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.