Franklin Street Advisors Inc. NC Has $10.48 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Franklin Street Advisors Inc. NC decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 13.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,914 shares of the construction company's stock after selling 3,328 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Martin Marietta Materials were worth $10,478,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Martin Marietta Materials by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock worth $3,705,466,000 after acquiring an additional 36,531 shares during the period. Principal Financial Group Inc. grew its position in shares of Martin Marietta Materials by 11.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock valued at $939,898,000 after purchasing an additional 191,043 shares during the period. Amundi increased its stake in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock valued at $808,005,000 after purchasing an additional 148,065 shares during the last quarter. Geode Capital Management LLC increased its stake in Martin Marietta Materials by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock valued at $758,499,000 after purchasing an additional 32,082 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Martin Marietta Materials by 54,277.3% during the fourth quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company's stock worth $474,370,000 after buying an additional 916,743 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MLM. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note 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 company an "overweight" rating in a research note on Tuesday, May 6th. Raymond James cut their target price on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Loop Capital reduced their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials Stock Down 1.9%

Shares of NYSE MLM traded down $10.77 during mid-day trading on Friday, reaching $541.87. 249,973 shares of the company traded hands, compared to its average volume of 485,995. The company's fifty day moving average is $527.88 and its two-hundred day moving average is $523.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The stock has a market cap of $32.67 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Martin Marietta Materials's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.93 earnings per share. On average, analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials's payout ratio is 18.20%.

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.