Pallas Capital Advisors LLC Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Pallas Capital Advisors LLC bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 524 shares of the construction company's stock, valued at approximately $251,000.

A number of other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in shares of Martin Marietta Materials by 34.7% in the first quarter. Farther Finance Advisors LLC now owns 423 shares of the construction company's stock worth $205,000 after purchasing an additional 109 shares during the period. Fenimore Asset Management Inc boosted its position in shares of Martin Marietta Materials by 4.9% in the first quarter. Fenimore Asset Management Inc now owns 83,840 shares of the construction company's stock worth $40,086,000 after purchasing an additional 3,933 shares during the period. SOA Wealth Advisors LLC. bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $3,347,000. Wedmont Private Capital boosted its position in shares of Martin Marietta Materials by 14.6% in the first quarter. Wedmont Private Capital now owns 612 shares of the construction company's stock worth $301,000 after purchasing an additional 78 shares during the period. Finally, Sivia Capital Partners LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth approximately $219,000. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MLM. Raymond James dropped their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Loop Capital dropped their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. 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. Finally, UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the company from $548.00 to $634.00 in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $610.69.

Martin Marietta Materials Stock Down 1.9%

Shares of MLM stock traded down $10.77 during trading hours on Friday, reaching $541.87. 249,973 shares of the stock were exchanged, compared to its average volume of 486,254. The business's fifty day moving average is $529.68 and its two-hundred day moving average is $522.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The firm has a market capitalization of $32.67 billion, a P/E ratio of 16.76, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The company's revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

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.