Essex Investment Management Co. LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 24.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,405 shares of the construction company's stock after selling 463 shares during the period. Essex Investment Management Co. LLC's holdings in Martin Marietta Materials were worth $672,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in MLM. Sunbeam Capital Management LLC purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $235,000. Waverly Advisors LLC boosted its holdings in shares of Martin Marietta Materials by 78.9% in the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after purchasing an additional 459 shares during the period. Mather Group LLC. boosted its position in Martin Marietta Materials by 65.5% during the 1st quarter. Mather Group LLC. now owns 278 shares of the construction company's stock valued at $133,000 after acquiring an additional 110 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Martin Marietta Materials by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock valued at $1,457,000 after acquiring an additional 40 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after acquiring an additional 218 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
Martin Marietta Materials Stock Up 0.4%
Shares of MLM traded up $2.27 during midday trading on Friday, hitting $577.15. 393,100 shares of the company's stock traded hands, compared to its average volume of 480,766. The stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 5.27 and a beta of 0.87. 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 firm's fifty day moving average is $556.14 and its 200-day moving average is $525.95. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23.
Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's payout ratio is presently 18.20%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on MLM shares. Morgan Stanley increased their target price on Martin Marietta Materials from $576.00 to $605.00 and gave the company an "overweight" rating in a research report on Monday. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Royal Bank Of Canada started 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 on the stock. Stifel Nicolaus increased 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. Finally, Raymond James Financial dropped their target price on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average price target of $605.93.
Read Our Latest Research Report on MLM
Martin Marietta Materials Profile
(
Free Report)
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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