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

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Checchi Capital Advisers LLC increased its holdings in shares of Martin Marietta Materials by 1.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,336 shares of the construction company's stock valued at $690,000 after purchasing an additional 19 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after purchasing an additional 19 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Martin Marietta Materials by 2.6% in the fourth quarter. Signaturefd LLC now owns 835 shares of the construction company's stock valued at $431,000 after purchasing an additional 21 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Martin Marietta Materials by 3.5% in the first quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock valued at $312,000 after purchasing an additional 22 shares in the last quarter. Finally, Summit Place Financial Advisors LLC increased its holdings in shares of Martin Marietta Materials by 0.4% in the fourth quarter. Summit Place Financial Advisors LLC now owns 5,862 shares of the construction company's stock valued at $3,028,000 after purchasing an additional 23 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 0.2%

Shares of MLM opened at $551.29 on Monday. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The firm has a market cap of $33.23 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The firm's 50-day simple moving average is $521.85 and its 200 day simple moving average is $523.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating 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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $1.93 EPS. Martin Marietta Materials's quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

Analysts Set New Price Targets

A number of analysts have commented on MLM shares. Loop Capital lowered their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Stephens lowered their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Barclays lowered their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $548.00 to $634.00 in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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