J. Safra Sarasin Holding AG Acquires New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Key Points

• J. Safra Sarasin Holding AG has acquired 468 shares of Martin Marietta Materials, valued at approximately $224,000, signaling institutional interest in the company.
• Martin Marietta Materials announced a quarterly dividend of $0.79 per share, with a dividend yield of 0.5% and a payout ratio of 18.20%.
• Wall Street analysts have generally positive outlooks, with a consensus rating of "Moderate Buy" and an average price target of $608.40 for the stock.

J. Safra Sarasin Holding AG acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 468 shares of the construction company's stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter worth approximately $29,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials in the 1st quarter valued at $30,000. IMA Advisory Services Inc. bought a new position in shares of Martin Marietta Materials in the 1st quarter worth $40,000. Valley National Advisers Inc. lifted 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 purchasing an additional 64 shares during the last quarter. Finally, Bellwether Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $46,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock opened at $608.34 on Wednesday. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 5.52 and a beta of 0.89. The company has a fifty day simple moving average of $558.08 and a 200-day simple moving average of $527.27. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Raymond James Financial cut their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Bank of America lifted their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Royal Bank Of Canada initiated coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They set a "sector perform" rating and a $515.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average price target of $608.40.

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.

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