Cetera Investment Advisers Has $5.67 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Cetera Investment Advisers increased its stake in Martin Marietta Materials by 27.7%, acquiring an additional 2,572 shares, bringing its total holdings to 11,854 shares valued at approximately $5.67 million.
• Martin Marietta reported $1.90 earnings per share, slightly beating analysts' expectations of $1.88 but down from $1.93 in the same quarter the previous year, with a revenue of $1.35 billion.
• Analysts have set a new consensus target price for Martin Marietta shares at $605.93, with several firms upgrading their ratings and target prices recently.

Cetera Investment Advisers raised its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 27.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,854 shares of the construction company's stock after buying an additional 2,572 shares during the quarter. Cetera Investment Advisers' holdings in Martin Marietta Materials were worth $5,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings 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. Invesco Ltd. lifted its position in shares of Martin Marietta Materials by 5.4% during the 4th quarter. Invesco Ltd. now owns 873,629 shares of the construction company's stock valued at $451,229,000 after acquiring an additional 44,680 shares during the period. Alkeon Capital Management LLC lifted its position in shares of Martin Marietta Materials by 46.6% during the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock valued at $398,324,000 after acquiring an additional 245,000 shares during the period. GAMMA Investing LLC lifted its position in shares of Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock valued at $333,540,000 after acquiring an additional 696,403 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Martin Marietta Materials by 39.2% during 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 acquiring an additional 185,731 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Down 1.4%

Martin Marietta Materials stock traded down $8.43 during trading hours on Wednesday, hitting $599.07. The stock had a trading volume of 250,226 shares, compared to its average volume of 480,904. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The stock has a market cap of $36.11 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 5.52 and a beta of 0.89. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The business's 50 day simple moving average is $558.08 and its 200-day simple moving average is $527.27.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were given a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.20%.

Analysts Set New Price Targets

MLM has been the subject of a number of recent analyst reports. Bank of America upped their target price on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research report on Tuesday. Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their target price for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Royal Bank Of Canada initiated coverage on 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, Stephens reiterated an "overweight" rating and set a $700.00 target price on shares of Martin Marietta Materials in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $611.73.

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.