Douglas Lane & Associates LLC Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Douglas Lane & Associates LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,119 shares of the construction company's stock after purchasing an additional 1,683 shares during the quarter. Douglas Lane & Associates LLC owned 0.06% of Martin Marietta Materials worth $17,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MLM. Vanguard Group Inc. grew its position in shares of Martin Marietta Materials by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock worth $3,705,466,000 after buying an additional 36,531 shares during the period. JPMorgan Chase & Co. raised its stake in Martin Marietta Materials by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock valued at $1,441,663,000 after acquiring an additional 506,705 shares during the period. Principal Financial Group Inc. grew its holdings in Martin Marietta Materials by 11.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock valued at $939,898,000 after buying an additional 191,043 shares in the last quarter. Amundi grew its holdings in shares of Martin Marietta Materials by 10.5% during the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after buying an additional 32,082 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded up $0.19 during midday trading on Thursday, hitting $549.76. The company's stock had a trading volume of 288,431 shares, compared to its average volume of 488,692. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The company has a 50-day moving average price of $520.52 and a two-hundred day moving average price of $524.64. The company has a market cap of $33.14 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. 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 firm posted $1.93 EPS. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued 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 0.57%. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent research reports. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. 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 report on Friday, May 16th. Loop Capital reduced their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Truist Financial dropped their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $610.69.

About Martin Marietta Materials

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.