TD Asset Management Inc Decreases Stock Holdings in Martin Marietta Materials, Inc. $MLM

TD Asset Management Inc trimmed its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,199 shares of the construction company’s stock after selling 8,469 shares during the period. TD Asset Management Inc’s holdings in Martin Marietta Materials were worth $65,044,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Schear Investment Advisers LLC increased its holdings in Martin Marietta Materials by 0.6% during the 3rd quarter. Schear Investment Advisers LLC now owns 2,731 shares of the construction company’s stock valued at $1,721,000 after purchasing an additional 16 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Martin Marietta Materials by 10.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 181 shares of the construction company’s stock worth $99,000 after buying an additional 17 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Martin Marietta Materials by 3.9% in the third quarter. Daymark Wealth Partners LLC now owns 448 shares of the construction company’s stock valued at $283,000 after acquiring an additional 17 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Martin Marietta Materials by 2.9% in the third quarter. Ritholtz Wealth Management now owns 646 shares of the construction company’s stock valued at $407,000 after acquiring an additional 18 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its position in Martin Marietta Materials by 1.9% during the 2nd quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company’s stock valued at $533,000 after purchasing an additional 18 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MLM shares. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Jefferies Financial Group reiterated a “buy” rating and set a $785.00 price target on shares of Martin Marietta Materials in a research report on Thursday. B. Riley Financial assumed coverage on shares of Martin Marietta Materials in a report on Thursday, January 15th. They issued a “neutral” rating and a $700.00 price objective for the company. Citigroup lifted their price objective on Martin Marietta Materials from $758.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Zacks Research downgraded Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of “Hold” and a consensus price target of $695.63.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock opened at $678.83 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $710.97. The company has a quick ratio of 2.36, a current ratio of 3.57 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $40.94 billion, a P/E ratio of 36.11, a PEG ratio of 2.59 and a beta of 1.16. The stock’s 50 day moving average is $656.08 and its 200 day moving average is $631.04.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the firm posted $4.79 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.66%.

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.