Blair William & Co. IL Sells 625 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Blair William & Co. IL reduced its stake in Martin Marietta Materials by 6.0%, selling 625 shares and bringing its total holdings to 9,720 shares valued at approximately $4.6 million as of the latest SEC filing.
• Analysts have set a range of price targets for Martin Marietta Materials, with UBS Group upgrading the stock to "buy" with a target of $634, while the average target is around $611.73, reflecting a general positive outlook.
• Martin Marietta recently declared a quarterly dividend of $0.79 per share, resulting in an annualized yield of 0.5%, with a low payout ratio of 18.20% indicating sustainable dividend payments.

Blair William & Co. IL trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,720 shares of the construction company's stock after selling 625 shares during the quarter. Blair William & Co. IL's holdings in Martin Marietta Materials were worth $4,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Sunbeam Capital Management LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter worth approximately $235,000. Waverly Advisors LLC boosted its position in Martin Marietta Materials by 78.9% during the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after buying an additional 459 shares during the period. Mather Group LLC. increased its position in shares of Martin Marietta Materials by 65.5% in the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after acquiring an additional 110 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Martin Marietta Materials by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after acquiring an additional 40 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in shares of Martin Marietta Materials by 30.5% during the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after acquiring an additional 218 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MLM. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their target price for the stock from $548.00 to $634.00 in a research note on Friday, May 16th. Stephens reiterated an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday. Raymond James Financial decreased their target price on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Morgan Stanley lifted their price target on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada assumed coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $611.73.

Martin Marietta Materials Stock Down 1.3%

NYSE:MLM opened at $599.45 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99. The firm's 50-day moving average price is $559.05 and its 200-day moving average price is $527.77. The company has a market capitalization of $36.13 billion, a PE ratio of 34.53, a P/E/G ratio of 5.55 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.79 per share. The ex-dividend date of this dividend 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 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.

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