Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,126 shares of the construction company’s stock after selling 221 shares during the period. Griffin Asset Management Inc.’s holdings in Martin Marietta Materials were worth $1,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $25,000. Pinnacle Bancorp Inc. acquired a new position in Martin Marietta Materials in the fourth quarter valued at $26,000. Riverview Trust Co purchased a new stake in Martin Marietta Materials during the first quarter valued at about $26,000. Exchange Traded Concepts LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $27,000. Finally, Benjamin Edwards Inc. raised its holdings in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MLM. Truist Financial raised their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price objective (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Finally, The Goldman Sachs Group raised their target price on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $610.27.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded up $3.51 during trading on Friday, reaching $541.80. The stock had a trading volume of 616,241 shares, compared to its average volume of 452,578. The firm’s 50 day moving average price is $574.19 and its two-hundred day moving average price is $556.19. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The stock has a market cap of $33.40 billion, a PE ratio of 16.05, a P/E/G ratio of 2.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a $0.74 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.