DAVENPORT & Co LLC Has $172.04 Million Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

DAVENPORT & Co LLC grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 359,871 shares of the construction company's stock after acquiring an additional 3,324 shares during the quarter. Martin Marietta Materials accounts for 1.0% of DAVENPORT & Co LLC's portfolio, making the stock its 15th largest holding. DAVENPORT & Co LLC owned approximately 0.59% of Martin Marietta Materials worth $172,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lee Danner & Bass Inc. bought a new stake in Martin Marietta Materials in the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. acquired a new position in Martin Marietta Materials during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC increased its position in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after purchasing an additional 34 shares during the period. Valley National Advisers Inc. grew its position 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 buying an additional 64 shares during the period. Finally, Bellwether Advisors LLC bought a new stake in shares of Martin Marietta Materials during the 4th quarter valued at $46,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

NYSE:MLM traded up $1.22 during mid-day trading on Wednesday, reaching $558.90. 319,445 shares of the company's stock were exchanged, compared to its average volume of 483,651. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The business's fifty day simple moving average is $544.77 and its two-hundred day simple moving average is $519.90. The firm has a market capitalization of $33.69 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 5.06 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued 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. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. 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 declared 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 annualized dividend and a dividend yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, Raymond James Financial dropped their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have given 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, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average price target of $603.86.

About Martin Marietta Materials

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.