Clearstead Advisors LLC Lowers Stock Holdings in Martin Marietta Materials, Inc. $MLM

Clearstead Advisors LLC lowered its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 49.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,904 shares of the construction company’s stock after selling 3,776 shares during the period. Clearstead Advisors LLC’s holdings in Martin Marietta Materials were worth $2,461,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MLM. Schear Investment Advisers LLC increased its stake in Martin Marietta Materials by 0.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after buying an additional 16 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Martin Marietta Materials by 10.4% in the second quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock valued at $99,000 after acquiring an additional 17 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Martin Marietta Materials by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock valued at $283,000 after acquiring an additional 17 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Martin Marietta Materials by 2.9% during the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock worth $407,000 after acquiring an additional 18 shares during the period. Finally, Snowden Capital Advisors LLC raised its holdings in Martin Marietta Materials by 1.9% during the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock worth $533,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Martin Marietta Materials from $758.00 to $780.00 and gave the company a “buy” rating in a report on Friday, February 13th. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Loop Capital downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 target price for the company. in a report on Wednesday, January 28th. B. Riley Financial assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 target price on the stock. Finally, Jefferies Financial Group increased their price target on shares of Martin Marietta Materials from $755.00 to $761.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $690.69.

Martin Marietta Materials Stock Up 1.9%

Martin Marietta Materials stock opened at $696.41 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $710.97. The firm has a market capitalization of $42.00 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The stock’s fifty day moving average is $653.97 and its two-hundred day moving average is $630.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.36 and a current ratio of 3.57.

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

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.66%.

About Martin Marietta Materials

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.