Venturi Wealth Management LLC Has $87,000 Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Venturi Wealth Management LLC lowered its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162 shares of the construction company’s stock after selling 34 shares during the quarter. Venturi Wealth Management LLC’s holdings in Martin Marietta Materials were worth $87,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MLM. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after buying an additional 704,460 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Martin Marietta Materials by 114.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 980,699 shares of the construction company’s stock worth $602,092,000 after acquiring an additional 523,038 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Martin Marietta Materials by 54.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock valued at $251,784,000 after acquiring an additional 164,503 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Martin Marietta Materials by 247.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 148,827 shares of the construction company’s stock worth $80,634,000 after purchasing an additional 106,002 shares during the period. Finally, M&G Plc bought a new position in Martin Marietta Materials during the 1st quarter worth about $41,142,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BNP Paribas raised Martin Marietta Materials to a “strong-buy” rating in a research report on Thursday, September 19th. Citigroup reduced their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Stephens lowered their price target on shares of 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. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Finally, Jefferies Financial Group lowered their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Trading Down 2.9 %

Shares of Martin Marietta Materials stock opened at $587.96 on Friday. The firm’s 50 day moving average is $554.32 and its 200 day moving average is $556.80. The firm has a market capitalization of $35.93 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 4.05 and a beta of 0.90. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $6.94 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 17.84 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 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.