Inspire Investing LLC Sells 1,813 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Inspire Investing LLC cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 46.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,107 shares of the construction company’s stock after selling 1,813 shares during the period. Inspire Investing LLC’s holdings in Martin Marietta Materials were worth $1,142,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Martin Marietta Materials during the 4th quarter worth $25,000. Riverview Trust Co bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth $31,000. Fortitude Family Office LLC raised its stake in shares of Martin Marietta Materials by 186.4% during the 2nd quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth $41,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Up 2.7 %

MLM stock opened at $548.56 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $33.81 billion, a PE ratio of 16.25, a PEG ratio of 3.52 and a beta of 0.91. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The stock has a 50-day simple moving average of $541.01 and a two-hundred day simple moving average of $567.60.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.60 EPS. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stephens lowered their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Loop Capital lowered their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Morgan Stanley lifted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Jefferies Financial Group boosted their price objective on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus lowered their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $629.82.

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.