Choreo LLC Sells 1,467 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Choreo LLC reduced its stake in Martin Marietta Materials, Inc. by 45.6%, selling 1,467 shares, leaving it with a total of 1,751 shares valued at approximately $837,000.
• Martin Marietta reported a quarterly earnings of $1.90 per share, exceeding expectations, with revenue of $1.35 billion, marking an 8.2% year-over-year increase.
• The company announced a quarterly dividend of $0.79 per share, representing a 0.54% yield, with a low dividend payout ratio of 18.20%.

Choreo LLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 45.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,751 shares of the construction company's stock after selling 1,467 shares during the quarter. Choreo LLC's holdings in Martin Marietta Materials were worth $837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in 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 1st quarter worth approximately $30,000. Valley National Advisers Inc. lifted its position in Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after buying an additional 64 shares during the last quarter. Bellwether Advisors LLC bought a new stake in Martin Marietta Materials in the 4th quarter worth approximately $46,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Martin Marietta Materials in the 4th quarter worth approximately $47,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $586.01 on Friday. The stock has a market cap of $35.32 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 5.33 and a beta of 0.87. The business's fifty day moving average is $555.14 and its 200 day moving average is $524.27. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58.

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 for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MLM. Raymond James Financial dropped their target price on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus boosted their price objective 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. Royal Bank Of Canada initiated coverage on Martin Marietta Materials in a research report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price objective for the company. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $603.86.

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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