Robertson Stephens Wealth Management LLC Trims Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Robertson Stephens Wealth Management LLC trimmed its holdings in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 39.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 717 shares of the construction company's stock after selling 472 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Martin Marietta Materials were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its holdings 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 in the last quarter. GAMMA Investing LLC boosted its holdings in Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock worth $333,540,000 after acquiring an additional 696,403 shares during the last quarter. Norges Bank bought a new stake in shares of Martin Marietta Materials in the 4th quarter worth $306,863,000. Raymond James Financial Inc. purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $196,374,000. Finally, Alkeon Capital Management LLC raised its holdings in shares of Martin Marietta Materials by 46.6% in the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock valued at $398,324,000 after purchasing an additional 245,000 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Price Performance

NYSE MLM traded up $14.18 on Monday, reaching $552.40. 438,426 shares of the company's stock traded hands, compared to its average volume of 485,435. The stock has a market cap of $33.30 billion, a PE ratio of 31.82, a P/E/G ratio of 4.88 and a beta of 0.89. Martin Marietta Materials, Inc. has a 12 month low of $441.95 and a 12 month high of $633.23. The stock has a 50-day simple moving average of $536.95 and a 200 day simple moving average of $519.91. 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 released its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating 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 analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $1.93 EPS. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict 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 of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is 18.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MLM shares. Stifel Nicolaus increased their price target 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. Loop Capital lowered their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Royal Bank Of Canada initiated coverage on shares of Martin Marietta Materials in a research note on Monday, June 16th. They set a "sector perform" rating and a $515.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.