Cable Hill Partners LLC Has $376,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Cable Hill Partners LLC cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 699 shares of the construction company’s stock after selling 49 shares during the quarter. Cable Hill Partners LLC’s holdings in Martin Marietta Materials were worth $376,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Schrum Private Wealth Management LLC acquired a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at $331,000. Kovack Advisors Inc. bought a new position in Martin Marietta Materials during the third quarter valued at about $734,000. Pinnacle Financial Partners Inc lifted its position in shares of Martin Marietta Materials by 46.3% in the third quarter. Pinnacle Financial Partners Inc now owns 581 shares of the construction company’s stock worth $313,000 after buying an additional 184 shares during the last quarter. MQS Management LLC boosted its stake in shares of Martin Marietta Materials by 5.7% during the 3rd quarter. MQS Management LLC now owns 1,093 shares of the construction company’s stock worth $588,000 after acquiring an additional 59 shares in the last quarter. Finally, Haverford Trust Co acquired a new position in shares of Martin Marietta Materials during the 3rd quarter valued at about $202,000. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MLM shares. Loop Capital boosted 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. StockNews.com upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group lowered their target price 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, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Stephens dropped their price objective on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $634.85.

Martin Marietta Materials Stock Performance

MLM opened at $605.33 on Thursday. The stock’s 50 day simple moving average is $554.32 and its 200-day simple moving average is $556.80. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market cap of $37.00 billion, a PE ratio of 18.86, a P/E/G ratio of 4.05 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.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results 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). The business had revenue of $1.89 billion during 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 company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $6.94 EPS. Sell-side 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. Shareholders 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 yield of 0.52%. 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.