Victory Capital Management Inc. Purchases 2,670 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Victory Capital Management Inc. lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,695 shares of the construction company's stock after purchasing an additional 2,670 shares during the period. Victory Capital Management Inc. owned 0.06% of Martin Marietta Materials worth $17,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wayfinding Financial LLC bought a new position in Martin Marietta Materials in the 1st quarter worth $29,000. Chilton Capital Management LLC bought a new position in Martin Marietta Materials in the 1st quarter worth $30,000. Valley National Advisers Inc. raised its holdings in Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after acquiring an additional 64 shares during the period. Bellwether Advisors LLC bought a new position in Martin Marietta Materials in the 4th quarter worth $46,000. Finally, Kapitalo Investimentos Ltda bought a new position in Martin Marietta Materials in the 4th quarter worth $47,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of MLM stock traded up $2.82 during trading hours on Friday, reaching $584.26. 98,859 shares of the company were exchanged, compared to its average volume of 483,096. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The stock's fifty day moving average is $554.71 and its two-hundred day moving average is $523.69. The company has a market cap of $35.22 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 5.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. Martin Marietta Materials's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share 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 paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MLM. Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Morgan Stanley boosted their price objective 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 dropped their price objective 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. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $548.00 to $634.00 in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.