Charles Schwab Investment Management Inc. Purchases 19,040 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Martin Marietta Materials by 4.8%, holding approximately $199.08 million worth of shares as of its latest filing.
• Martin Marietta recently reported earnings of $5.43 EPS, missing expectations slightly, with a revenue of $1.81 billion for the quarter.
• The company's quarterly dividend was recently issued at $0.79, representing an annualized yield of 0.5% with a payout ratio of 18.20%.

Charles Schwab Investment Management Inc. raised its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,361 shares of the construction company's stock after purchasing an additional 19,040 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Martin Marietta Materials worth $199,075,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $29,000. Chilton Capital Management LLC bought a new stake in Martin Marietta Materials in the first quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new stake in Martin Marietta Materials in the first quarter worth approximately $40,000. Valley National Advisers Inc. grew its position in Martin Marietta Materials by 193.9% in the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after acquiring an additional 64 shares in the last quarter. Finally, Bellwether Advisors LLC bought a new stake in Martin Marietta Materials in the fourth quarter worth approximately $46,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MLM shares. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $609.00 to $637.00 and gave the stock a "buy" rating in a report on Tuesday. DA Davidson upped their price objective on shares of Martin Marietta Materials from $625.00 to $700.00 and gave the stock a "buy" rating in a report on Monday. Wall Street Zen upgraded shares of Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Saturday. Morgan Stanley upped their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, UBS Group upgraded shares of 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 note on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average target price of $622.63.

Insider Activity

In other news, Director Laree E. Perez sold 1,038 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $613.32, for a total value of $636,626.16. Following the completion of the sale, the director owned 15,417 shares of the company's stock, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.68% of the company's stock.

Martin Marietta Materials Stock Up 2.8%

Shares of NYSE MLM traded up $16.71 during midday trading on Tuesday, reaching $616.64. The company's stock had a trading volume of 477,943 shares, compared to its average volume of 430,598. The company has a current ratio of 2.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 5.46 and a beta of 0.89. The stock has a 50 day simple moving average of $563.99 and a 200-day simple moving average of $529.26.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $4.76 earnings per share. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials's payout ratio is presently 17.53%.

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.