Sanctuary Advisors LLC Increases Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Sanctuary Advisors LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,220 shares of the construction company’s stock after purchasing an additional 1,286 shares during the period. Sanctuary Advisors LLC’s holdings in Martin Marietta Materials were worth $4,914,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. boosted its stake in shares of Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after buying an additional 37 shares during the last quarter. Asset Dedication LLC boosted its stake in Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. First Personal Financial Services acquired a new position in Martin Marietta Materials during the 3rd quarter worth $33,000. Rothschild Investment LLC bought a new stake in shares of Martin Marietta Materials in the 2nd quarter worth about $43,000. Finally, Larson Financial Group LLC bought a new position in shares of Martin Marietta Materials during the third quarter worth about $49,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 1.1 %

Shares of MLM stock opened at $550.92 on Monday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 1 year low of $479.67 and a 1 year high of $633.23. The firm’s fifty day simple moving average is $579.17 and its 200 day simple moving average is $555.61. The firm has a market capitalization of $33.67 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.94 earnings per share. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.58 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Loop Capital increased their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. HSBC upgraded shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research note on Wednesday, December 11th. UBS Group started coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price objective for the company. BNP Paribas lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group decreased their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $655.77.

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.