Thompson Siegel & Walmsley LLC Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Thompson Siegel & Walmsley LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 14.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 567 shares of the construction company’s stock after selling 95 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Martin Marietta Materials were worth $262,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Fiduciary Alliance LLC purchased a new stake in shares of Martin Marietta Materials in the second quarter valued at about $30,000. Quarry LP acquired a new stake in Martin Marietta Materials during the 1st quarter worth approximately $30,000. ZRC Wealth Management LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at approximately $39,000. Fairfield Bush & CO. acquired a new position in shares of Martin Marietta Materials in the first quarter valued at approximately $46,000. Finally, Clear Street Markets LLC raised its stake in shares of Martin Marietta Materials by 95.2% during the first quarter. Clear Street Markets LLC now owns 123 shares of the construction company’s stock worth $44,000 after purchasing an additional 60 shares during the last quarter. 93.22% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $462.06 on Monday. The firm has a market capitalization of $28.56 billion, a PE ratio of 26.82, a P/E/G ratio of 1.17 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $317.94 and a 52 week high of $468.50. The firm’s 50-day simple moving average is $427.02 and its 200 day simple moving average is $431.85. The company has a quick ratio of 1.60, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, November 1st. The construction company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.04 by $0.90. Martin Marietta Materials had a net margin of 16.10% and a return on equity of 14.89%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm earned $4.69 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 18.22 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, November 30th. Martin Marietta Materials’s payout ratio is 17.18%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Seaport Res Ptn raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 25th. Stephens lifted their price objective on Martin Marietta Materials from $525.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Barclays boosted their target price on Martin Marietta Materials from $430.00 to $490.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Raymond James raised their price target on Martin Marietta Materials from $490.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, StockNews.com began coverage on Martin Marietta Materials in a report on Thursday, October 5th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.79.

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.