Martin Marietta Materials, Inc. $MLM Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC cut its stake in Martin Marietta Materials by 52% in the fourth quarter, selling 2,871 shares and leaving it with 2,647 shares valued at about $1.65 million.
• Wall Street sentiment remains positive, with the stock carrying a consensus rating of “Moderate Buy” and an average target price of $689.81. Recent analyst actions included B. Riley upgrading the shares to Buy and Weiss Ratings also raising its rating.
• The company posted solid quarterly results, reporting EPS of $1.93 versus $1.78 expected and revenue of $1.36 billion, up 17.2% year over year. Martin Marietta also announced a quarterly dividend of $0.83 per share, payable June 30.

AlphaQuest LLC decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 52.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,647 shares of the construction company's stock after selling 2,871 shares during the period. AlphaQuest LLC's holdings in Martin Marietta Materials were worth $1,648,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC grew its holdings in Martin Marietta Materials by 3.9% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 424 shares of the construction company's stock valued at $264,000 after purchasing an additional 16 shares during the last quarter. Harbour Investments Inc. grew its holdings in Martin Marietta Materials by 31.4% in the fourth quarter. Harbour Investments Inc. now owns 67 shares of the construction company's stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. Fiduciary Alliance LLC grew its holdings in Martin Marietta Materials by 2.6% in the fourth quarter. Fiduciary Alliance LLC now owns 702 shares of the construction company's stock valued at $437,000 after purchasing an additional 18 shares during the last quarter. Vise Technologies Inc. grew its holdings in Martin Marietta Materials by 2.5% in the third quarter. Vise Technologies Inc. now owns 731 shares of the construction company's stock valued at $461,000 after purchasing an additional 18 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its holdings in Martin Marietta Materials by 1.9% in the second quarter. Snowden Capital Advisors LLC now owns 970 shares of the construction company's stock valued at $533,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. B. Riley Financial raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and set a $700.00 target price on the stock in a report on Thursday, April 2nd. Royal Bank Of Canada reduced their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a "sector perform" rating on the stock in a research report on Monday, May 4th. UBS Group set a $739.00 price objective on Martin Marietta Materials in a research report on Sunday, May 10th. DA Davidson set a $680.00 price objective on Martin Marietta Materials in a research report on Thursday, February 12th. Finally, Weiss Ratings upgraded Martin Marietta Materials from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $689.81.

Martin Marietta Materials Stock Up 2.6%

Shares of NYSE:MLM opened at $575.23 on Thursday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The stock's fifty day simple moving average is $590.81 and its 200-day simple moving average is $621.63. The company has a market capitalization of $34.54 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.03 and a beta of 1.13.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the business earned $1.90 earnings per share. The business's revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.32 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials's dividend payout ratio is 7.91%.

About Martin Marietta Materials

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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