Northeast Financial Consultants Inc Sells 4,018 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Northeast Financial Consultants Inc cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 52.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,642 shares of the construction company’s stock after selling 4,018 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Martin Marietta Materials were worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Global Assets Advisory LLC purchased a new stake in Martin Marietta Materials during the first quarter valued at $22,265,000. Brevan Howard Capital Management LP grew its stake in shares of Martin Marietta Materials by 49.7% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after purchasing an additional 1,882 shares during the period. Vanguard Group Inc. increased its position in shares of Martin Marietta Materials by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after purchasing an additional 69,701 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Martin Marietta Materials by 182.5% in the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock worth $44,901,000 after purchasing an additional 47,250 shares during the period. Finally, Peak Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials in the second quarter worth approximately $2,710,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Financial Group raised their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Stifel Nicolaus lowered their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley upped their price target on Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Truist Financial lowered their price objective on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $629.82.

Martin Marietta Materials Trading Down 0.1 %

Shares of MLM opened at $539.11 on Friday. The company’s fifty day simple moving average is $538.34 and its 200-day simple moving average is $565.00. The company has a market cap of $33.23 billion, a P/E ratio of 15.97, a P/E/G ratio of 3.78 and a beta of 0.91. The company has a current ratio of 1.86, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. Martin Marietta Materials’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.60 EPS. As a group, analysts expect that Martin Marietta Materials, Inc. will post 19.33 EPS for the current year.

Martin Marietta Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is currently 9.36%.

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.