Martin Marietta Materials, Inc. (NYSE:MLM) Position Cut by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,189 shares of the construction company’s stock after selling 218 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $640,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Peak Financial Advisors LLC bought a new stake in Martin Marietta Materials in the second quarter valued at $2,710,000. TD Asset Management Inc increased its holdings in shares of Martin Marietta Materials by 4.4% during the first quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock valued at $90,840,000 after purchasing an additional 6,263 shares during the period. M&G Plc acquired a new position in shares of Martin Marietta Materials during the first quarter valued at $41,142,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Martin Marietta Materials by 35.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,843 shares of the construction company’s stock valued at $2,359,000 after purchasing an additional 1,003 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Martin Marietta Materials by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 465,703 shares of the construction company’s stock worth $252,318,000 after acquiring an additional 11,749 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Up 0.4 %

Martin Marietta Materials stock traded up $2.49 during mid-day trading on Wednesday, hitting $609.28. The stock had a trading volume of 8,856 shares, compared to its average volume of 445,353. The stock has a 50-day simple moving average of $550.70 and a two-hundred day simple moving average of $556.45. The stock has a market capitalization of $37.24 billion, a PE ratio of 18.91, a P/E/G ratio of 4.12 and a beta of 0.90. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. Martin Marietta Materials’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.94 EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s payout ratio is 9.85%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MLM shares. Citigroup decreased their price objective on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Barclays raised their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. UBS Group initiated coverage on Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target for the company. Finally, Jefferies Financial Group reduced their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $634.85.

About Martin Marietta Materials

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.