Cetera Investment Advisers Sells 1,587 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Cetera Investment Advisers trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,845 shares of the construction company’s stock after selling 1,587 shares during the period. Cetera Investment Advisers’ holdings in Martin Marietta Materials were worth $4,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Martin Marietta Materials by 114.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after buying an additional 523,038 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Martin Marietta Materials by 247.5% during the second quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock valued at $80,634,000 after purchasing an additional 106,002 shares in the last quarter. Vanguard Group Inc. raised its position in Martin Marietta Materials by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares in the last quarter. M&G Plc bought a new stake in Martin Marietta Materials during the first quarter worth about $41,142,000. Finally, Interval Partners LP boosted its holdings in shares of Martin Marietta Materials by 117.4% in the 1st quarter. Interval Partners LP now owns 95,810 shares of the construction company’s stock worth $58,822,000 after purchasing an additional 51,749 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 1.1 %

NYSE MLM opened at $524.37 on Wednesday. The stock has a market cap of $32.32 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 3.78 and a beta of 0.91. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The stock has a 50 day simple moving average of $533.08 and a two-hundred day simple moving average of $560.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results 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 business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations 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 revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.60 EPS. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Loop Capital decreased 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 price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus cut their price objective on shares of 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. Morgan Stanley lifted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $629.82.

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.