Curated Wealth Partners LLC Sells 95,964 Shares of Martin Marietta Materials, Inc. $MLM

Key Points

• Curated Wealth Partners sharply reduced its Martin Marietta Materials stake by selling 95,964 shares, leaving the firm with 533 shares valued at approximately $256,000. Institutional investors collectively own 95.04% of MLM.
• Analysts remain broadly positive, with 13 Buy, six Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $642.65, despite several recent target-price cuts.
• MLM reported quarterly EPS of $5.00 and revenue of $1.95 billion, exceeding analyst estimates, while revenue rose 21% year over year. The company also increased its quarterly dividend to $0.84 per share, equivalent to a 0.7% annual yield.

Curated Wealth Partners LLC cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 99.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 533 shares of the construction company's stock after selling 95,964 shares during the quarter. Curated Wealth Partners LLC's holdings in Martin Marietta Materials were worth $256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MLM. AMG National Trust Bank grew its stake in shares of Martin Marietta Materials by 3.6% during the 1st quarter. AMG National Trust Bank now owns 495 shares of the construction company's stock worth $291,000 after acquiring an additional 17 shares in the last quarter. AlTi Global Inc. raised its holdings in shares of Martin Marietta Materials by 1.2% in the first quarter. AlTi Global Inc. now owns 1,496 shares of the construction company's stock valued at $881,000 after purchasing an additional 18 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company's stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Castle Wealth Management LLC lifted its position in shares of Martin Marietta Materials by 2.2% in the first quarter. Castle Wealth Management LLC now owns 1,082 shares of the construction company's stock worth $637,000 after purchasing an additional 23 shares in the last quarter. Finally, Fulton Bank N.A. lifted its position in shares of Martin Marietta Materials by 5.1% in the first quarter. Fulton Bank N.A. now owns 492 shares of the construction company's stock worth $290,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

MLM has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of Martin Marietta Materials from $585.00 to $579.00 and set an "overweight" rating for the company in a report on Monday, October 5th. JPMorgan Chase & Co. lowered their price target on shares of Martin Marietta Materials from $680.00 to $650.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 13th. Raymond James Financial cut their price target on shares of Martin Marietta Materials from $660.00 to $640.00 and set an "outperform" rating on the stock in a research report on Friday. Citigroup cut their price target on shares of Martin Marietta Materials from $690.00 to $610.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Finally, Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Tuesday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $642.65.

Martin Marietta Materials Stock Down 0.2%

NYSE:MLM opened at $499.97 on Monday. The firm has a market capitalization of $30.03 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08. Martin Marietta Materials, Inc. has a twelve month low of $464.92 and a twelve month high of $710.97. The stock's 50 day moving average price is $507.17 and its two-hundred day moving average price is $557.06. The company has a quick ratio of 0.73, a current ratio of 1.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.76 by $0.24. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%. The business's revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.43 EPS. Equities research analysts expect that Martin Marietta Materials, Inc. will post 18.04 earnings per share for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a dividend of $0.84 per share. The ex-dividend date was Tuesday, September 1st. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. Martin Marietta Materials's dividend payout ratio is presently 8.26%.

Martin Marietta Materials Company Profile

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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