Fenimore Asset Management Inc Has $40.09 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Fenimore Asset Management Inc grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,840 shares of the construction company's stock after buying an additional 3,933 shares during the quarter. Fenimore Asset Management Inc owned about 0.14% of Martin Marietta Materials worth $40,086,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lee Danner & Bass Inc. acquired a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter worth approximately $32,000. Kestra Investment Management LLC bought a new position in Martin Marietta Materials during the 4th quarter valued at $35,000. Hopwood Financial Services Inc. acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Up 1.3%

Shares of NYSE:MLM traded up $7.17 during mid-day trading on Thursday, hitting $553.02. The stock had a trading volume of 239,513 shares, compared to its average volume of 486,741. The company's 50 day moving average is $526.00 and its 200-day moving average is $523.59. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The company has a market cap of $33.34 billion, a PE ratio of 17.11, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. Martin Marietta Materials's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm 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 is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Martin Marietta Materials's dividend payout ratio is 18.20%.

Analysts Set New Price Targets

MLM has been the subject of several research reports. Barclays decreased their target price on Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the company from $548.00 to $634.00 in a report on Friday, May 16th. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Truist Financial lowered their price objective on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Raymond James cut their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $610.69.

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.