Graypoint LLC Decreases Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Graypoint LLC decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,460 shares of the construction company’s stock after selling 41 shares during the quarter. Graypoint LLC’s holdings in Martin Marietta Materials were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. RMR Wealth Builders raised its stake in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock valued at $1,235,000 after purchasing an additional 1,941 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Martin Marietta Materials during the fourth quarter valued at $57,000. Franklin Street Advisors Inc. NC raised its stake in Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after purchasing an additional 3,384 shares in the last quarter. Hilltop National Bank raised its stake in Martin Marietta Materials by 17.7% during the fourth quarter. Hilltop National Bank now owns 166 shares of the construction company’s stock valued at $86,000 after purchasing an additional 25 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its stake in Martin Marietta Materials by 20.5% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 859 shares of the construction company’s stock valued at $444,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

MLM has been the topic of a number of analyst reports. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective on the stock in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $515.00 to $640.00 in a research report on Wednesday, November 27th. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Citigroup cut their price objective on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment 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’s stock. According to data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $643.36.

Martin Marietta Materials Stock Down 1.7 %

Shares of Martin Marietta Materials stock opened at $508.54 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 1 year low of $489.90 and a 1 year high of $633.23. The firm’s 50-day moving average is $563.58 and its two-hundred day moving average is $551.17. The stock has a market cap of $31.08 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 3.74 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued 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). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business 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 earned $6.94 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 17.58 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 Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.62%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials’s payout ratio is 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.