Axxcess Wealth Management LLC Lowers Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Axxcess Wealth Management LLC cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 34.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 764 shares of the construction company’s stock after selling 400 shares during the period. Axxcess Wealth Management LLC’s holdings in Martin Marietta Materials were worth $411,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MLM. QRG Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 27.2% during the 1st quarter. QRG Capital Management Inc. now owns 1,770 shares of the construction company’s stock valued at $1,087,000 after buying an additional 379 shares during the period. US Bancorp DE boosted its position in Martin Marietta Materials by 0.5% during the 1st quarter. US Bancorp DE now owns 10,074 shares of the construction company’s stock worth $6,185,000 after purchasing an additional 53 shares during the period. Avantax Advisory Services Inc. purchased a new stake in Martin Marietta Materials during the 1st quarter worth $276,000. TD Asset Management Inc boosted its position in Martin Marietta Materials by 4.4% during the 1st quarter. TD Asset Management Inc now owns 147,963 shares of the construction company’s stock worth $90,840,000 after purchasing an additional 6,263 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Martin Marietta Materials by 22.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 74,136 shares of the construction company’s stock worth $45,515,000 after purchasing an additional 13,637 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM opened at $605.33 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $451.37 and a fifty-two week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The firm has a market cap of $37.00 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. The company’s 50-day moving average price is $554.32 and its 200 day moving average price is $556.80.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data 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). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $6.94 earnings per share. As a group, sell-side analysts expect that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, December 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.52%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

Analyst Ratings Changes

MLM has been the subject of a number of research reports. Truist Financial decreased their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Loop Capital upped their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Citigroup decreased their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, UBS Group started coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.85.

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.