Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC decreased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,318 shares of the construction company’s stock after selling 173 shares during the quarter. Martin Marietta Materials makes up approximately 1.9% of Renaissance Investment Group LLC’s holdings, making the stock its 24th biggest holding. Renaissance Investment Group LLC’s holdings in Martin Marietta Materials were worth $9,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new stake in Martin Marietta Materials during the third quarter worth about $209,000. Inspire Investing LLC raised its stake in Martin Marietta Materials by 0.9% during the third quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock worth $1,144,000 after acquiring an additional 19 shares during the period. InTrack Investment Management Inc raised its stake in Martin Marietta Materials by 161.3% during the third quarter. InTrack Investment Management Inc now owns 2,574 shares of the construction company’s stock worth $1,385,000 after acquiring an additional 1,589 shares during the period. Ritholtz Wealth Management raised its stake in Martin Marietta Materials by 67.0% during the third quarter. Ritholtz Wealth Management now owns 765 shares of the construction company’s stock worth $412,000 after acquiring an additional 307 shares during the period. Finally, Covea Finance raised its stake in Martin Marietta Materials by 19.8% during the third quarter. Covea Finance now owns 30,190 shares of the construction company’s stock worth $16,250,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MLM. Jefferies Financial Group dropped their price objective on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday. Loop Capital dropped their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. BNP Paribas upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Citigroup dropped their price target on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $619.36.

Martin Marietta Materials Price Performance

NYSE MLM opened at $544.90 on Friday. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.86 and a quick ratio of 0.94. The firm has a market capitalization of $33.30 billion, a PE ratio of 16.56, a P/E/G ratio of 3.68 and a beta of 0.91. The company’s 50 day simple moving average is $530.36 and its 200 day simple moving average is $559.83.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share 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 the consensus estimate of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.60 earnings per share. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.60%.

Martin Marietta Materials 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.