Gateway Investment Advisers LLC Acquires 1,115 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Gateway Investment Advisers LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,549 shares of the construction company's stock after acquiring an additional 1,115 shares during the period. Gateway Investment Advisers LLC owned approximately 0.09% of Martin Marietta Materials worth $26,082,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on MLM. Truist Financial cut their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. 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. JPMorgan Chase & Co. downgraded shares of 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. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Finally, Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials Price Performance

MLM stock opened at $551.29 on Friday. The company has a 50 day simple moving average of $521.85 and a 200 day simple moving average of $524.42. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

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

Martin Marietta Materials Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials's payout ratio is presently 18.20%.

About Martin Marietta Materials

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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