Meeder Advisory Services Inc. Sells 68 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Meeder Advisory Services Inc. lessened its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,851 shares of the construction company’s stock after selling 68 shares during the period. Meeder Advisory Services Inc.’s holdings in Martin Marietta Materials were worth $996,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLM. Ameritas Advisory Services LLC boosted its position in shares of Martin Marietta Materials by 2.8% during the 2nd quarter. Ameritas Advisory Services LLC now owns 664 shares of the construction company’s stock worth $360,000 after acquiring an additional 18 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Martin Marietta Materials by 0.9% in the 3rd quarter. Inspire Investing LLC now owns 2,126 shares of the construction company’s stock valued at $1,144,000 after purchasing an additional 19 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Martin Marietta Materials by 13.6% in the 2nd quarter. Mather Group LLC. now owns 167 shares of the construction company’s stock valued at $90,000 after purchasing an additional 20 shares in the last quarter. TFG Advisers LLC increased its stake in shares of Martin Marietta Materials by 3.7% in the 2nd quarter. TFG Advisers LLC now owns 555 shares of the construction company’s stock valued at $300,000 after purchasing an additional 20 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its holdings in shares of Martin Marietta Materials by 3.0% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 680 shares of the construction company’s stock worth $368,000 after buying an additional 20 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on MLM. Morgan Stanley lifted their target price on Martin Marietta Materials from $610.00 to $657.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Truist Financial cut their target price on shares of 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. UBS Group assumed coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target for the company. Finally, Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $582.68 on Wednesday. The stock’s 50 day moving average is $559.08 and its 200 day moving average is $556.37. Martin Marietta Materials, Inc. has a one year low of $451.37 and a one year high of $633.23. The firm has a market cap of $35.61 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.90 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company posted $6.94 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is 9.85%.

Martin Marietta Materials Company 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.