Martin Marietta Materials, Inc. $MLM Shares Sold by Aristotle Capital Management LLC

Key Points

• Aristotle Capital Management cut its stake in Martin Marietta by 5.3% in Q3, selling 121,412 shares and ending the period with 2,154,127 shares valued at about $1,357,774,000, making MLM its seventh-largest holding.
• Martin Marietta missed quarterly estimates, reporting EPS of $4.62 versus the $4.81 consensus and revenue of $1.53 billion versus $1.66 billion, though revenue was up 9.3% year-over-year.
• The company declared a $0.83 quarterly dividend (annualized $3.32, yield ~0.6%, ex-dividend March 2, pay March 31), while analysts' consensus rating is Hold with an average price target of $696.88.

Aristotle Capital Management LLC lessened its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,154,127 shares of the construction company's stock after selling 121,412 shares during the period. Martin Marietta Materials comprises about 2.6% of Aristotle Capital Management LLC's portfolio, making the stock its 7th largest holding. Aristotle Capital Management LLC owned 3.57% of Martin Marietta Materials worth $1,357,774,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Quent Capital LLC acquired a new stake in Martin Marietta Materials in the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Martin Marietta Materials during the second quarter worth about $28,000. Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the third quarter worth approximately $32,000. Grey Fox Wealth Advisors LLC bought a new stake in Martin Marietta Materials in the third quarter valued at approximately $33,000. Finally, Clearstead Trust LLC raised its stake in Martin Marietta Materials by 93.8% in the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company's stock valued at $34,000 after buying an additional 30 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.6%

Shares of MLM stock opened at $584.08 on Friday. The stock has a market cap of $35.23 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.13. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $710.97. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $654.23 and a 200 day simple moving average of $632.62.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.19). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.Martin Marietta Materials's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $4.79 EPS. On average, research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a $0.83 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 17.66%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens cut their price objective on Martin Marietta Materials from $740.00 to $735.00 and set an "overweight" rating for the company in a research report on Friday, February 13th. Wells Fargo & Company decreased their target price on Martin Marietta Materials from $631.00 to $612.00 and set an "equal weight" rating on the stock in a report on Thursday, February 12th. B. Riley Financial assumed coverage on Martin Marietta Materials in a research note on Thursday, January 15th. They issued a "neutral" rating and a $700.00 price target on the stock. Morgan Stanley cut their price target on Martin Marietta Materials from $706.00 to $702.00 and set an "overweight" rating for the company in a report on Monday, March 9th. Finally, DA Davidson set a $680.00 price objective on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $696.88.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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