Ironsides Asset Advisors LLC Has $844,000 Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• Ironsides Asset Advisors LLC reduced its stake in Martin Marietta Materials by 21.9% in the first quarter, owning 1,765 shares valued at approximately $844,000.
• Martin Marietta recently reported quarterly earnings of $1.90 per share, slightly exceeding analyst expectations, with a year-over-year revenue increase of 8.2%.
• The company declared a quarterly dividend of $0.79 per share, yielding 0.55%, with a dividend payout ratio of 18.20%.

Ironsides Asset Advisors LLC decreased its stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 21.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,765 shares of the construction company's stock after selling 495 shares during the quarter. Ironsides Asset Advisors LLC's holdings in Martin Marietta Materials were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter worth $29,000. Chilton Capital Management LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $30,000. IMA Advisory Services Inc. acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $40,000. Bellwether Advisors LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $46,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 1.6%

MLM opened at $576.44 on Tuesday. The business has a 50 day moving average price of $555.30 and a 200 day moving average price of $524.79. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. The firm has a market cap of $34.75 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 5.35 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. Martin Marietta Materials's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.93 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

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 issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Analyst Upgrades and Downgrades

MLM has been the subject of several research reports. Raymond James Financial decreased their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Loop Capital decreased their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Stifel Nicolaus lifted their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Royal Bank Of Canada initiated coverage on Martin Marietta Materials in a research report on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective for the company. Finally, UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $548.00 to $634.00 in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $605.93.

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.

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