Oppenheimer Asset Management Inc. Has $6.48 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,547 shares of the construction company’s stock after selling 450 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Martin Marietta Materials were worth $6,481,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MLM. Whipplewood Advisors LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $32,000. First Personal Financial Services bought a new stake in Martin Marietta Materials during the third quarter worth approximately $33,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $35,000. Retirement Wealth Solutions LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $41,000. Finally, R Squared Ltd bought a new stake in Martin Marietta Materials during the fourth quarter worth approximately $41,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial cut their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup cut their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. Barclays dropped their price target on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, BNP Paribas downgraded Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Trading Up 0.1 %

Shares of MLM stock opened at $483.06 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $475.10 and a 52-week high of $633.23. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 4.45 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm has a fifty day moving average of $526.15 and a 200-day moving average of $545.66.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. Martin Marietta Materials’s dividend payout ratio is presently 9.77%.

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.