Moors & Cabot Inc. Cuts Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Moors & Cabot Inc. decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.3% in the third quarter, HoldingsChannel reports. The fund owned 1,082 shares of the construction company’s stock after selling 124 shares during the quarter. Moors & Cabot Inc.’s holdings in Martin Marietta Materials were worth $582,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MLM. Newbridge Financial Services Group Inc. lifted its holdings in shares of Martin Marietta Materials by 411.1% during the 2nd 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 last quarter. Asset Dedication LLC raised its stake in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the third quarter worth about $33,000. Fortitude Family Office LLC grew its stake in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Martin Marietta Materials during the first quarter valued at about $41,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the topic of several research analyst reports. Stephens dropped their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective on the stock. Jefferies Financial Group reduced their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley boosted their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Trading Up 1.2 %

Shares of NYSE:MLM opened at $597.81 on Friday. 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, Inc. has a 12-month low of $456.83 and a 12-month high of $633.23. The business has a 50 day moving average of $563.67 and a two-hundred day moving average of $556.76. The company has a market capitalization of $36.54 billion, a PE ratio of 18.63, a PEG ratio of 3.89 and a beta of 0.90.

Martin Marietta Materials (NYSE:MLM) last posted its 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 analyst estimates of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.94 earnings per share. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Martin Marietta Materials Company 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.