Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 22.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,102 shares of the construction company's stock after selling 10,458 shares during the period. Kornitzer Capital Management Inc. KS owned 0.06% of Martin Marietta Materials worth $17,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. Sunbeam Capital Management LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter worth $235,000. Waverly Advisors LLC lifted its stake in Martin Marietta Materials by 78.9% in the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock worth $538,000 after acquiring an additional 459 shares during the period. Mather Group LLC. lifted its stake in Martin Marietta Materials by 65.5% in the first quarter. Mather Group LLC. now owns 278 shares of the construction company's stock worth $133,000 after acquiring an additional 110 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Martin Marietta Materials by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company's stock worth $1,457,000 after acquiring an additional 40 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in Martin Marietta Materials by 30.5% during the 1st quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company's stock valued at $446,000 after purchasing an additional 218 shares during the period. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $6.52 on Thursday, hitting $552.88. The company's stock had a trading volume of 308,591 shares, compared to its average volume of 476,064. The company has a market capitalization of $33.33 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 4.98 and a beta of 0.87. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year 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 fifty day moving average price of $552.26 and a 200-day moving average price of $521.76.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The business's revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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. Shareholders of record on Monday, June 2nd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is presently 18.20%.

Analysts Set New Price Targets

MLM has been the topic of a number of analyst reports. Royal Bank Of Canada initiated coverage on 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. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Loop Capital lowered 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 report on Tuesday, April 1st. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of "Moderate Buy" and a consensus target price of $603.86.

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.