Sendero Wealth Management LLC Acquires Shares of 778 Martin Marietta Materials, Inc. (NYSE:MLM)

Sendero Wealth Management LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 778 shares of the construction company's stock, valued at approximately $372,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Martin Marietta Materials by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after buying an additional 36,531 shares during the last quarter. JPMorgan Chase & Co. raised its position in Martin Marietta Materials by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock worth $1,441,663,000 after purchasing an additional 506,705 shares in the last quarter. Principal Financial Group Inc. raised its position in 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 worth $939,898,000 after purchasing an additional 191,043 shares in the last quarter. Amundi raised its position in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after purchasing an additional 148,065 shares in the last quarter. Finally, Geode Capital Management LLC raised its position 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 worth $758,499,000 after purchasing an additional 32,082 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of MLM traded up $1.25 during mid-day trading on Friday, hitting $551.29. 274,760 shares of the company traded hands, compared to its average volume of 488,213. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $33.23 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 4.45 and a beta of 0.89. The business has a 50-day moving average of $521.85 and a 200 day moving average of $523.52. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23.

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 analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 earnings per share. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Morgan Stanley increased their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. Stifel Nicolaus increased their price target 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. Finally, 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. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $610.69.

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.