Envestnet Asset Management Inc. Sells 5,073 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Envestnet Asset Management Inc. cut its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,868 shares of the construction company's stock after selling 5,073 shares during the period. Envestnet Asset Management Inc. owned 0.30% of Martin Marietta Materials worth $86,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC boosted its stake in shares of Martin Marietta Materials by 1.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock worth $527,000 after buying an additional 19 shares during the period. Signaturefd LLC lifted its position in Martin Marietta Materials by 2.6% during the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock worth $431,000 after buying an additional 21 shares during the period. Net Worth Advisory Group increased its holdings in shares of Martin Marietta Materials by 2.2% during the 1st quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock worth $475,000 after buying an additional 21 shares during the last quarter. PDS Planning Inc grew its stake in Martin Marietta Materials by 4.9% during the first quarter. PDS Planning Inc now owns 452 shares of the construction company's stock worth $216,000 after buying an additional 21 shares during the period. Finally, Financial Management Professionals Inc. lifted its position in Martin Marietta Materials by 3.5% during the 1st quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock worth $312,000 after acquiring an additional 22 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MLM has been the subject of a number of recent analyst reports. Loop Capital decreased their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Raymond James Financial decreased their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $603.86.

Martin Marietta Materials Stock Performance

Shares of MLM traded down $3.01 during mid-day trading on Friday, reaching $561.37. The company's stock had a trading volume of 269,548 shares, compared to its average volume of 366,507. The stock has a market cap of $33.84 billion, a P/E ratio of 31.60, a PEG ratio of 5.12 and a beta of 0.87. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The business has a 50-day simple moving average of $551.11 and a two-hundred day simple moving average of $521.08.

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

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.56%. Martin Marietta Materials's payout ratio is 18.20%.

About Martin Marietta Materials

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.