Oppenheimer Asset Management Inc. Reduces Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Oppenheimer Asset Management Inc. cut its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 12.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,990 shares of the construction company's stock after selling 1,557 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Martin Marietta Materials were worth $5,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MLM. Private Advisor Group LLC increased its position in shares of Martin Marietta Materials by 11.8% in the 4th quarter. Private Advisor Group LLC now owns 1,630 shares of the construction company's stock valued at $842,000 after purchasing an additional 172 shares during the last quarter. Wealthspire Advisors LLC increased its position in shares of Martin Marietta Materials by 18.9% in the 4th quarter. Wealthspire Advisors LLC now owns 1,128 shares of the construction company's stock valued at $583,000 after purchasing an additional 179 shares during the last quarter. Howard Capital Management Inc. increased its position in shares of Martin Marietta Materials by 6.4% in the 4th quarter. Howard Capital Management Inc. now owns 431 shares of the construction company's stock valued at $223,000 after purchasing an additional 26 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $5,113,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $547,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased their price objective 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. 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 research report on Tuesday, April 29th. Royal Bank Of Canada began coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Finally, Morgan Stanley increased their target price on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $603.86.

Martin Marietta Materials Trading Up 0.1%

Shares of Martin Marietta Materials stock opened at $552.53 on Wednesday. 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 company has a market capitalization of $33.31 billion, a P/E ratio of 31.83, a PEG ratio of 5.00 and a beta of 0.89. The company's fifty day moving average is $538.02 and its two-hundred day moving average is $520.13.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $1.93 EPS. Martin Marietta Materials's revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's payout ratio is 18.20%.

Martin Marietta Materials 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.

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