Leavell Investment Management Inc. Sells 1,490 Shares of Martin Marietta Materials, Inc. $MLM

Leavell Investment Management Inc. reduced its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 33.8% during the third quarter, Holdings Channel.com reports. The fund owned 2,915 shares of the construction company’s stock after selling 1,490 shares during the period. Leavell Investment Management Inc.’s holdings in Martin Marietta Materials were worth $1,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Martin Marietta Materials by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,955,139 shares of the construction company’s stock valued at $1,622,254,000 after purchasing an additional 10,445 shares during the last quarter. State Street Corp lifted its stake in Martin Marietta Materials by 2.0% in the second quarter. State Street Corp now owns 2,825,325 shares of the construction company’s stock valued at $1,550,990,000 after buying an additional 56,353 shares during the period. Bank of America Corp DE grew its holdings in Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the period. Geode Capital Management LLC increased its stake in Martin Marietta Materials by 0.3% in the second quarter. Geode Capital Management LLC now owns 1,520,932 shares of the construction company’s stock valued at $831,331,000 after purchasing an additional 4,666 shares in the last quarter. Finally, Alkeon Capital Management LLC raised its holdings in shares of Martin Marietta Materials by 4.2% during the second quarter. Alkeon Capital Management LLC now owns 802,351 shares of the construction company’s stock valued at $440,459,000 after purchasing an additional 32,000 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $652.35 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $668.83. The firm has a market capitalization of $39.34 billion, a P/E ratio of 34.39 and a beta of 1.15. The business has a fifty day moving average price of $626.04 and a 200-day moving average price of $612.42.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing analysts’ consensus estimates of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $2.06 billion. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a dividend of $0.83 per share. The ex-dividend date was Monday, December 1st. This represents a $3.32 annualized dividend and a yield of 0.5%. Martin Marietta Materials’s payout ratio is presently 17.50%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MLM shares. DA Davidson reaffirmed a “neutral” rating and issued a $690.00 target price on shares of Martin Marietta Materials in a research report on Wednesday. UBS Group boosted their price objective on Martin Marietta Materials from $705.00 to $723.00 and gave the company a “buy” rating in a report on Friday, November 7th. JPMorgan Chase & Co. increased their target price on Martin Marietta Materials from $670.00 to $700.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Barclays lifted their price target on shares of Martin Marietta Materials from $600.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Martin Marietta Materials from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $670.63.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.