Banque Cantonale Vaudoise Takes $931,000 Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Martin Marietta Materials, investing approximately $931,000 to purchase 1,947 shares.
• Martin Marietta Materials reported an earnings per share (EPS) of $1.90 for the last quarter, surpassing analyst estimates of $1.88, while revenues grew by 8.2% year-over-year.
• The company declared a quarterly dividend of $0.79 per share, resulting in an annualized dividend of $3.16 with a yield of 0.5%.

Banque Cantonale Vaudoise acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,947 shares of the construction company's stock, valued at approximately $931,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Martin Marietta Materials by 58,570.5% during the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock worth $333,540,000 after purchasing an additional 696,403 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in Martin Marietta Materials by 46.6% in the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock valued at $398,324,000 after buying an additional 245,000 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company's stock valued at $315,261,000 after buying an additional 185,731 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Martin Marietta Materials by 6.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock valued at $927,775,000 after buying an additional 120,679 shares in the last quarter. Finally, Skye Global Management LP raised its holdings in Martin Marietta Materials by 85.2% in the 4th quarter. Skye Global Management LP now owns 256,500 shares of the construction company's stock valued at $132,482,000 after acquiring an additional 118,000 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Royal Bank Of Canada initiated coverage on shares of Martin Marietta Materials in a research note on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $605.93.

Martin Marietta Materials Stock Up 4.3%

MLM stock traded up $24.63 during midday trading on Monday, reaching $602.49. The company had a trading volume of 705,241 shares, compared to its average volume of 481,049. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $36.32 billion, a P/E ratio of 34.71, a PEG ratio of 5.29 and a beta of 0.89. The company has a 50 day moving average of $556.45 and a two-hundred day moving average of $526.29.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.20%.

Martin Marietta Materials 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.