Callan Family Office LLC Has $250,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Callan Family Office LLC has reduced its stake in Martin Marietta Materials, Inc. by 63%, now holding 522 shares valued at approximately $250,000.
• Martin Marietta reported a quarterly earnings miss with an EPS of $5.43, falling short of the consensus estimate of $5.44, and had revenue of $1.81 billion compared to expected revenue of $1.88 billion.
• The company has announced an increase in its quarterly dividend, raising it from $0.79 to $0.83 per share, set to be distributed on September 30th.

Callan Family Office LLC lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 63.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 522 shares of the construction company's stock after selling 889 shares during the quarter. Callan Family Office LLC's holdings in Martin Marietta Materials were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MLM. Sunbeam Capital Management LLC bought a new position in Martin Marietta Materials in the 4th quarter valued at approximately $235,000. Waverly Advisors LLC raised its holdings in Martin Marietta Materials by 78.9% in the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after buying an additional 459 shares during the last quarter. Mather Group LLC. raised its holdings in Martin Marietta Materials by 65.5% in the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after buying an additional 110 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Martin Marietta Materials by 1.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after buying an additional 40 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Martin Marietta Materials by 30.5% in the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after buying an additional 218 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Activity at Martin Marietta Materials

In other news, Director Laree E. Perez sold 1,038 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the completion of the sale, the director owned 15,417 shares of the company's stock, valued at $9,455,554.44. This trade represents a 6.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by company insiders.

Martin Marietta Materials Trading Down 0.5%

Shares of MLM stock traded down $2.82 during trading hours on Friday, hitting $609.68. 302,898 shares of the company were exchanged, compared to its average volume of 430,962. The firm has a market cap of $36.77 billion, a P/E ratio of 33.81, a P/E/G ratio of 5.56 and a beta of 0.89. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The company has a 50 day simple moving average of $567.83 and a two-hundred day simple moving average of $530.74.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.44 by ($0.01). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a return on equity of 11.88% and a net margin of 16.47%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $4.76 EPS. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's payout ratio is 17.53%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MLM shares. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $525.00 price objective (up previously from $515.00) on shares of Martin Marietta Materials in a report on Friday, August 8th. DA Davidson raised their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the company a "buy" rating in a report on Monday, August 11th. Bank of America raised their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Finally, Stephens reiterated an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a report on Monday, August 4th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $622.63.

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.