Fisher Funds Management LTD Acquires 7,323 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Fisher Funds Management LTD increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,896 shares of the construction company's stock after purchasing an additional 7,323 shares during the period. Fisher Funds Management LTD owned about 0.08% of Martin Marietta Materials worth $23,857,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in Martin Marietta Materials by 48.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company's stock valued at $609,000 after buying an additional 386 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Martin Marietta Materials by 64.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock valued at $1,047,000 after buying an additional 796 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Martin Marietta Materials by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,321 shares of the construction company's stock valued at $205,216,000 after buying an additional 14,402 shares in the last quarter. Keybank National Association OH boosted its stake in Martin Marietta Materials by 5.0% in the 4th quarter. Keybank National Association OH now owns 2,637 shares of the construction company's stock valued at $1,362,000 after buying an additional 126 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Martin Marietta Materials in the 4th quarter valued at $283,000. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 0.3%

Shares of MLM traded down $1.73 during trading hours on Monday, hitting $556.16. 434,210 shares of the stock traded hands, compared to its average volume of 484,163. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The business has a fifty day moving average of $547.85 and a 200-day moving average of $520.07. 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 has a market capitalization of $33.53 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 5.07 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The firm 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 firm posted $1.93 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials's payout ratio is 18.20%.

Analyst Ratings Changes

MLM has been the topic of several recent analyst reports. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their price target for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Loop Capital decreased their price target on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Finally, JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.