Pelham Capital Ltd. Buys New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Pelham Capital Ltd. acquired a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,020 shares of the construction company's stock, valued at approximately $11,007,000. Martin Marietta Materials accounts for approximately 5.8% of Pelham Capital Ltd.'s investment portfolio, making the stock its 7th largest holding.

Several other institutional investors also recently bought and sold shares of MLM. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter worth approximately $29,000. Chilton Capital Management LLC acquired a new stake in shares of Martin Marietta Materials in the first quarter worth approximately $30,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 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 acquiring an additional 34 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLM has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Raymond James Financial reduced their price objective 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. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. Wall Street Zen downgraded Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Finally, Stifel Nicolaus lifted their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $603.86.

Martin Marietta Materials Stock Down 0.4%

Shares of Martin Marietta Materials stock traded down $2.08 during trading hours on Friday, hitting $562.30. 148,084 shares of the company's stock traded hands, compared to its average volume of 477,443. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The stock has a 50 day simple moving average of $550.62 and a 200-day simple moving average of $520.89. The company has a market cap of $33.90 billion, a PE ratio of 32.39, a PEG ratio of 5.15 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, beating 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 return on equity of 12.01% and a net margin of 16.07%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 EPS. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.56%. Martin Marietta Materials's 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.