SG Americas Securities LLC Trims Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

SG Americas Securities LLC cut its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 87.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,643 shares of the construction company’s stock after selling 11,984 shares during the quarter. SG Americas Securities LLC’s holdings in Martin Marietta Materials were worth $849,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its holdings in shares of Martin Marietta Materials by 411.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC lifted its position in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares during the period. First Personal Financial Services acquired a new stake in Martin Marietta Materials in the 3rd quarter worth about $33,000. Retirement Wealth Solutions LLC purchased a new stake in Martin Marietta Materials in the 4th quarter valued at about $41,000. Finally, Larson Financial Group LLC acquired a new position in shares of Martin Marietta Materials during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of several research analyst reports. Citigroup decreased their target price 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. BNP Paribas lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a report on Wednesday, January 8th. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $648.71.

Martin Marietta Materials Price Performance

MLM stock opened at $542.33 on Wednesday. The stock’s 50 day moving average is $549.29 and its two-hundred day moving average is $551.41. Martin Marietta Materials, Inc. has a 52-week low of $490.05 and a 52-week high of $633.23. The company has a market capitalization of $33.15 billion, a PE ratio of 16.90, a P/E/G ratio of 3.21 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $6.94 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Analysts predict that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 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.