1,863 Martin Marietta Materials, Inc. $MLM Shares Sold by Heritage Investors Management Corp

Key Points

• Heritage Investors Management reduced its Martin Marietta Materials stake by 2.9%, selling 1,863 shares and retaining 61,317 shares worth approximately $29.4 million. Institutional investors collectively own 95.04% of the company.
• Martin Marietta reported quarterly earnings of $5.00 per share, exceeding the $4.76 analyst estimate, while revenue rose 21% year over year to $1.95 billion.
• The company raised its quarterly dividend to $0.84 per share, or $3.36 annually, yielding about 0.6%. Analysts maintain a “Moderate Buy” consensus with an average price target of $639.59.

Heritage Investors Management Corp decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,317 shares of the construction company's stock after selling 1,863 shares during the quarter. Heritage Investors Management Corp owned approximately 0.10% of Martin Marietta Materials worth $29,421,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MLM. Activest Wealth Management raised its position in shares of Martin Marietta Materials by 1,633.3% during the 3rd quarter. Activest Wealth Management now owns 52 shares of the construction company's stock worth $25,000 after purchasing an additional 49 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Martin Marietta Materials by 370.0% in the 2nd quarter. CoreCap Advisors LLC now owns 47 shares of the construction company's stock valued at $27,000 after buying an additional 37 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after buying an additional 19 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in Martin Marietta Materials by 1,900.0% in the 3rd quarter. WestEnd Advisors LLC now owns 60 shares of the construction company's stock worth $29,000 after buying an additional 57 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $541.03 on Monday. The company's 50-day moving average price is $502.30 and its 200-day moving average price is $576.08. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. The company has a market cap of $32.50 billion, a P/E ratio of 13.29, a P/E/G ratio of 2.80 and a beta of 1.02. Martin Marietta Materials, Inc. has a twelve month low of $464.92 and a twelve month high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. Martin Marietta Materials had a net margin of 36.73% and a return on equity of 9.49%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business posted $5.43 earnings per share. Martin Marietta Materials's quarterly revenue was up 21.0% on a year-over-year basis. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 16.29 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were paid a $0.84 dividend. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials's dividend payout ratio is 8.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MLM shares. DA Davidson raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $610.00 target price for the company in a report on Friday, October 16th. Weiss Ratings lowered Martin Marietta Materials from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 3rd. Wolfe Research set a $648.00 price target on Martin Marietta Materials in a research note on Tuesday, August 4th. Zacks Research cut Martin Marietta Materials from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 20th. Finally, UBS Group dropped their price target on Martin Marietta Materials from $715.00 to $662.00 and set a "buy" rating for the company in a research report on Thursday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $639.59.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of construction materials serving the infrastructure, commercial, residential and industrial markets. The company's primary business is aggregates, including crushed stone, sand and gravel used in roads, bridges, buildings and other construction projects.

Martin Marietta also produces cement, ready-mixed concrete and asphalt products, and provides paving and related construction services in selected markets. Through its Magnesia Specialties business, the company manufactures magnesium-based and dolomitic lime products used in industrial, environmental and agricultural applications.

Headquartered in Raleigh, North Carolina, Martin Marietta Materials became an independent publicly traded company in 1993 following a spin-off from Martin Marietta Corporation.

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