Cambridge Investment Research Advisors Inc. Sells 835 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Cambridge Investment Research Advisors Inc. cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,337 shares of the construction company's stock after selling 835 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Martin Marietta Materials were worth $4,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLM. Lee Danner & Bass Inc. bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $32,000. Hopwood Financial Services Inc. bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC grew its holdings in Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after acquiring an additional 34 shares during the last quarter. Finally, Bellwether Advisors LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $46,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Performance

Shares of MLM traded up $8.89 during mid-day trading on Tuesday, hitting $557.85. 458,322 shares of the company traded hands, compared to its average volume of 484,178. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. The stock has a 50-day moving average price of $543.57 and a two-hundred day moving average price of $519.63. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The stock has a market cap of $33.63 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 4.98 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 earnings per share. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a dividend of $0.79 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Loop Capital dropped their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Raymond James Financial dropped their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and an average target price of $603.86.

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.