68,411 Shares in Martin Marietta Materials, Inc. (NYSE:MLM) Purchased by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 68,411 shares of the construction company's stock, valued at approximately $32,709,000. Border to Coast Pensions Partnership Ltd owned about 0.11% of Martin Marietta Materials as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in Martin Marietta Materials by 0.5% during the 1st quarter. Diversified Trust Co now owns 6,706 shares of the construction company's stock worth $3,206,000 after acquiring an additional 32 shares during the last quarter. PDS Planning Inc grew its holdings in Martin Marietta Materials by 4.9% during the 1st quarter. PDS Planning Inc now owns 452 shares of the construction company's stock worth $216,000 after acquiring an additional 21 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Martin Marietta Materials by 6.0% in the first quarter. Sequoia Financial Advisors LLC now owns 11,309 shares of the construction company's stock worth $5,407,000 after acquiring an additional 637 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Martin Marietta Materials by 160.5% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the construction company's stock valued at $47,000 after purchasing an additional 61 shares in the last quarter. Finally, Spire Wealth Management raised its position in Martin Marietta Materials by 64.0% in the 1st quarter. Spire Wealth Management now owns 1,250 shares of the construction company's stock worth $598,000 after purchasing an additional 488 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Loop Capital cut their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Royal Bank Of Canada began 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 target price for the company. Finally, Stifel Nicolaus increased their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $603.86.

Martin Marietta Materials Stock Down 0.2%

Shares of Martin Marietta Materials stock traded down $1.35 during trading on Monday, reaching $548.70. The stock had a trading volume of 373,220 shares, compared to its average volume of 484,278. 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 $33.08 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 4.99 and a beta of 0.89. The stock has a fifty day moving average price of $540.97 and a two-hundred day moving average price of $519.38. Martin Marietta Materials, Inc. has a 52 week low of $134.62 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $1.93 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. Martin Marietta Materials's dividend payout ratio is presently 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.