Chartwell Investment Partners LLC Trims Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Chartwell Investment Partners LLC decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,847 shares of the construction company’s stock after selling 136 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Martin Marietta Materials were worth $4,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its position in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock worth $25,000 after buying an additional 37 shares in the last quarter. Asset Dedication LLC grew its position in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials during the third quarter worth about $33,000. Fortitude Family Office LLC grew its position in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after purchasing an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Martin Marietta Materials during the first quarter worth about $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE:MLM opened at $616.05 on Tuesday. The firm has a market capitalization of $37.65 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 4.14 and a beta of 0.90. Martin Marietta Materials, Inc. has a 1 year low of $451.37 and a 1 year high of $633.23. The business has a 50 day simple moving average of $549.06 and a 200-day simple moving average of $556.31. 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $6.94 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials, Inc. will post 17.84 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Analyst Upgrades and Downgrades

MLM has been the subject of several research analyst reports. Barclays increased their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Citigroup cut their target price on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research report on Monday, August 12th. 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 research report on Thursday, October 31st. Stephens cut their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. Four 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.85.

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.