ARS Investment Partners LLC Sells 91 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

ARS Investment Partners LLC lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,808 shares of the construction company’s stock after selling 91 shares during the period. Martin Marietta Materials comprises about 1.4% of ARS Investment Partners LLC’s portfolio, making the stock its 25th largest holding. ARS Investment Partners LLC’s holdings in Martin Marietta Materials were worth $15,396,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. raised its position in shares of Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC raised its holdings in Martin Marietta Materials by 1,300.0% in the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials during the third quarter worth approximately $33,000. Retirement Wealth Solutions LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $41,000. Finally, Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials during the third quarter worth approximately $49,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $543.33 on Tuesday. The company has a market cap of $33.21 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 3.17 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 52 week low of $490.05 and a 52 week high of $633.23. The business has a 50 day moving average price of $554.49 and a 200-day moving average price of $551.16.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. Martin Marietta Materials’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.94 earnings per share. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Analysts Set New Price Targets

A number of research analysts have commented on MLM shares. Barclays upped their price objective on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Loop Capital raised their price target on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup cut their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley cut their price target on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $648.71.

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.