GAMMA Investing LLC Purchases 696,403 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

GAMMA Investing LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 58,570.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 697,592 shares of the construction company's stock after acquiring an additional 696,403 shares during the period. GAMMA Investing LLC owned about 1.14% of Martin Marietta Materials worth $333,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MLM. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $28,000. Whipplewood Advisors LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $35,000. Hopwood Financial Services Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Martin Marietta Materials by 91.9% in the fourth 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 last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

NYSE:MLM traded up $5.89 during trading hours on Wednesday, reaching $551.43. The stock had a trading volume of 149,324 shares, compared to its average volume of 487,614. The stock has a market cap of $33.24 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. 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 stock has a 50 day simple moving average of $517.64 and a 200 day simple moving average of $524.68.

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 for the quarter, beating the consensus estimate of $1.88 by $0.02. The company 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. Stephens cut their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus boosted their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Truist Financial reduced their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials 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.