Robertson Stephens Wealth Management LLC Sells 472 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Robertson Stephens Wealth Management LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 39.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 717 shares of the construction company's stock after selling 472 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Martin Marietta Materials were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its stake in shares of Martin Marietta Materials by 1.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock worth $690,000 after acquiring an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Martin Marietta Materials by 1.9% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after purchasing an additional 19 shares during the last quarter. Signaturefd LLC raised its position in Martin Marietta Materials by 2.6% in the 4th quarter. Signaturefd LLC now owns 835 shares of the construction company's stock worth $431,000 after purchasing an additional 21 shares during the period. Net Worth Advisory Group lifted its stake in Martin Marietta Materials by 2.2% in the first quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock worth $475,000 after purchasing an additional 21 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in Martin Marietta Materials by 3.5% in the first quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock worth $312,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Loop Capital reduced their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Raymond James Financial lowered their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, Morgan Stanley lifted their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $603.86.

Martin Marietta Materials Stock Down 0.5%

Shares of NYSE MLM opened at $538.46 on Friday. The firm has a fifty day simple moving average of $533.79 and a two-hundred day simple moving average of $521.70. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $32.46 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 4.88 and a beta of 0.89.

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

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's payout ratio is presently 18.20%.

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.

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