Sivia Capital Partners LLC Buys New Shares in Martin Marietta Materials, Inc. (NYSE:MLM)

Sivia Capital Partners LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 459 shares of the construction company's stock, valued at approximately $219,000.

A number of other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Martin Marietta Materials by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,938 shares of the construction company's stock worth $4,694,000 after purchasing an additional 1,092 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Martin Marietta Materials by 2.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,759 shares of the construction company's stock worth $3,491,000 after acquiring an additional 157 shares during the period. Empowered Funds LLC lifted its holdings in shares of Martin Marietta Materials by 14.1% during the 4th quarter. Empowered Funds LLC now owns 1,264 shares of the construction company's stock worth $653,000 after acquiring an additional 156 shares during the period. Entropy Technologies LP bought a new position in shares of Martin Marietta Materials during the 4th quarter worth about $2,107,000. Finally, Wealthstar Advisors LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter worth about $253,000. Institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays cut 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 note on Thursday, February 13th. Stephens cut their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Raymond James cut their target price on 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. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials Trading Up 0.2%

Shares of NYSE MLM opened at $551.29 on Monday. 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 company has a 50-day moving average of $521.85 and a two-hundred day moving average of $523.52. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a market cap of $33.23 billion, a PE ratio of 17.05, 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, topping the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations 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 was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.93 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials's dividend payout ratio is currently 18.20%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.