Hendley & Co. Inc. Invests $3.46 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Hendley & Co. Inc. bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,230 shares of the construction company's stock, valued at approximately $3,457,000.

Several other large investors also recently modified their holdings of MLM. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $28,000. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter valued at $29,000. Chilton Capital Management LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth about $30,000. Hopwood Financial Services Inc. bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted 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 worth $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MLM. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and increased their price target for the stock from $548.00 to $634.00 in a research note on Friday, May 16th. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their target price for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Royal Bank Of Canada initiated coverage on shares of Martin Marietta Materials in a report on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective for the company. Finally, Raymond James Financial reduced their target price on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $603.86.

Martin Marietta Materials Trading Down 0.3%

Shares of Martin Marietta Materials stock traded down $1.73 on Monday, hitting $556.16. 434,210 shares of the company traded hands, compared to its average volume of 484,163. 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 company has a market cap of $33.53 billion, a PE ratio of 32.04, a PEG ratio of 5.07 and a beta of 0.87. The stock's 50 day moving average price is $547.85 and its 200-day moving average price is $520.07. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.20%.

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.