Independent Solutions Wealth Management LLC Sells 280 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Independent Solutions Wealth Management LLC trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 31.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 604 shares of the construction company’s stock after selling 280 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Martin Marietta Materials were worth $325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its stake in shares of 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 purchasing an additional 37 shares in the last quarter. Asset Dedication LLC raised its holdings in Martin Marietta Materials by 1,300.0% during the third 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 period. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials in the third quarter valued at about $33,000. Rothschild Investment LLC bought a new position in shares of Martin Marietta Materials in the second quarter worth about $43,000. Finally, Larson Financial Group LLC purchased a new stake in shares of Martin Marietta Materials during the third quarter worth about $49,000. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $525.77 on Friday. The business’s 50 day moving average price is $580.06 and its 200-day moving average price is $554.94. Martin Marietta Materials, Inc. has a fifty-two week low of $479.67 and a fifty-two week high of $633.23. The company has a market cap of $32.13 billion, a P/E ratio of 16.38, a P/E/G ratio of 3.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 2.34.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share for the quarter, missing the consensus estimate of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations 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 revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.94 EPS. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Monday, December 2nd. Martin Marietta Materials’s payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group dropped their target price on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Finally, UBS Group initiated coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average price target of $653.08.

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.