Meeder Advisory Services Inc. Has $996,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Meeder Advisory Services Inc. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,851 shares of the construction company’s stock after selling 68 shares during the period. Meeder Advisory Services Inc.’s holdings in Martin Marietta Materials were worth $996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLM. Quest Partners LLC raised its position in shares of Martin Marietta Materials by 57.8% during the third quarter. Quest Partners LLC now owns 1,504 shares of the construction company’s stock worth $810,000 after purchasing an additional 551 shares during the period. AMG National Trust Bank increased its stake in Martin Marietta Materials by 16.5% during the 3rd quarter. AMG National Trust Bank now owns 438 shares of the construction company’s stock valued at $236,000 after purchasing an additional 62 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Martin Marietta Materials by 33.5% during the third quarter. Gilbert & Cook Inc. now owns 1,738 shares of the construction company’s stock worth $935,000 after buying an additional 436 shares during the last quarter. Schear Investment Advisers LLC lifted its stake in shares of Martin Marietta Materials by 17.6% in the third quarter. Schear Investment Advisers LLC now owns 2,978 shares of the construction company’s stock valued at $1,603,000 after buying an additional 446 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its stake in shares of Martin Marietta Materials by 2.3% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 8,964 shares of the construction company’s stock valued at $4,825,000 after buying an additional 201 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MLM shares. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Truist Financial decreased their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a report on Friday, August 9th. Jefferies Financial Group dropped their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Four 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $634.85.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $582.68 on Wednesday. The business’s 50 day simple moving average is $559.08 and its 200 day simple moving average is $556.37. Martin Marietta Materials, Inc. has a 12 month low of $451.37 and a 12 month high of $633.23. The company has a market cap of $35.61 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.90 and a beta of 0.90. 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 for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $6.94 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 9.85%.

Martin Marietta Materials Profile

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.