Profund Advisors LLC Lowers Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Profund Advisors LLC decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,551 shares of the construction company’s stock after selling 93 shares during the quarter. Profund Advisors LLC’s holdings in Martin Marietta Materials were worth $840,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MLM. Ameritas Advisory Services LLC boosted its stake in Martin Marietta Materials by 2.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after buying an additional 18 shares during the last quarter. Mather Group LLC. boosted its position in shares of Martin Marietta Materials by 13.6% in the second quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock worth $90,000 after acquiring an additional 20 shares during the last quarter. TFG Advisers LLC grew its holdings in Martin Marietta Materials by 3.7% in the second quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares during the period. Meiji Yasuda Life Insurance Co increased its position in Martin Marietta Materials by 3.0% during the second quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after purchasing an additional 20 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in Martin Marietta Materials by 1.8% during the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock worth $584,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley upped their price objective on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Stifel Nicolaus dropped their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Loop Capital cut their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Citigroup decreased their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Jefferies Financial Group raised their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

Martin Marietta Materials Trading Down 1.7 %

NYSE MLM opened at $535.92 on Wednesday. The stock has a market cap of $33.03 billion, a P/E ratio of 15.88, a PEG ratio of 3.52 and a beta of 0.91. The company’s fifty day simple moving average is $539.79 and its 200-day simple moving average is $565.78. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67.

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

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. 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 dividend payout ratio (DPR) is 9.36%.

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.