Jackson Hole Capital Partners LLC Raises Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Jackson Hole Capital Partners LLC boosted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 20.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,706 shares of the construction company's stock after purchasing an additional 814 shares during the quarter. Jackson Hole Capital Partners LLC's holdings in Martin Marietta Materials were worth $2,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth $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. bought a new stake in shares of Martin Marietta Materials in the 1st quarter valued at approximately $40,000. Valley National Advisers Inc. increased its position in Martin Marietta Materials by 193.9% during the first quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock valued at $45,000 after acquiring an additional 64 shares during the last quarter. Finally, Bellwether Advisors LLC purchased a new stake in Martin Marietta Materials in the 4th quarter worth about $46,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Price Performance

Shares of NYSE MLM traded down $8.31 during midday trading on Monday, hitting $577.42. 98,877 shares of the company's stock were exchanged, compared to its average volume of 481,349. 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 $34.81 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 5.35 and a beta of 0.87. The business's fifty day moving average price is $555.14 and its two-hundred day moving average price is $524.31. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced 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. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The business's revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's payout ratio is 18.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada began coverage on shares of Martin Marietta Materials in a report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price target on the stock. Loop Capital reduced their price target on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Morgan Stanley lifted their price target on Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three 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 stock has an average 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.