IFG Advisory LLC Buys Shares of 431 Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• IFG Advisory LLC has acquired a new stake in Martin Marietta Materials, purchasing 431 shares valued at approximately $206,000 in the first quarter.
• The company's stock has a market cap of $36.67 billion, with shares currently trading around $608.34, reflecting a 1.0% increase recently.
• Martin Marietta Materials has announced a quarterly dividend of $0.79, with an annualized dividend yield of 0.5%.

IFG Advisory LLC purchased a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 431 shares of the construction company's stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wayfinding Financial LLC acquired a new position in Martin Marietta Materials during the 1st quarter worth approximately $29,000. Chilton Capital Management LLC bought a new stake in Martin Marietta Materials in the first quarter worth $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Martin Marietta Materials in the first quarter valued at $40,000. Valley National Advisers Inc. grew its stake in shares of Martin Marietta Materials by 193.9% during the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after acquiring an additional 64 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new stake in Martin Marietta Materials during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MLM. Stephens reiterated an "overweight" rating and set a $700.00 price target on shares of Martin Marietta Materials in a research report on Monday. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. 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 research report on Thursday, May 1st. Raymond James Financial cut their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Finally, Bank of America increased their price target on Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $611.73.

Martin Marietta Materials Stock Performance

NYSE MLM traded down $8.05 on Wednesday, hitting $599.45. 618,391 shares of the company's stock traded hands, compared to its average volume of 374,343. The firm's 50-day moving average price is $559.05 and its two-hundred day moving average price is $527.77. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The firm has a market capitalization of $36.13 billion, a PE ratio of 34.53, a P/E/G ratio of 5.55 and a beta of 0.89. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.79 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.5%. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

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.