KBC Group NV Sells 624 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

KBC Group NV cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,822 shares of the construction company's stock after selling 624 shares during the quarter. KBC Group NV owned approximately 0.09% of Martin Marietta Materials worth $25,256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MLM. Sunbeam Capital Management LLC acquired a new position in Martin Marietta Materials in the fourth quarter valued at about $235,000. Waverly Advisors LLC raised its stake in shares of Martin Marietta Materials by 78.9% in the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after acquiring an additional 459 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Martin Marietta Materials by 41.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,159 shares of the construction company's stock worth $2,467,000 after acquiring an additional 1,505 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Martin Marietta Materials by 23.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 454 shares of the construction company's stock worth $217,000 after acquiring an additional 85 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Martin Marietta Materials by 64.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock worth $1,047,000 after acquiring an additional 796 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Loop Capital cut their price target on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Wall Street Zen lowered shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Stifel Nicolaus boosted 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 note on Thursday, May 1st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average price target of $603.86.

Martin Marietta Materials Trading Down 0.1%

Shares of Martin Marietta Materials stock traded down $0.78 on Friday, hitting $557.89. 310,586 shares of the company's stock traded hands, compared to its average volume of 484,146. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99. The stock has a market capitalization of $33.63 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 5.07 and a beta of 0.87. The firm's 50-day moving average price is $545.73 and its two-hundred day moving average price is $519.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.35 billion for 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%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal 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 issued a dividend of $0.79 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Martin Marietta Materials's payout ratio is 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.