Sivia Capital Partners LLC Makes New Investment 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 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 459 shares of the construction company's stock, valued at approximately $219,000.

A number of other hedge funds have also made changes to their positions in MLM. Gateway Investment Advisers LLC grew its position in Martin Marietta Materials by 2.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 54,549 shares of the construction company's stock worth $26,082,000 after purchasing an additional 1,115 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of Martin Marietta Materials by 37.5% in the 1st quarter. Independence Bank of Kentucky now owns 792 shares of the construction company's stock valued at $379,000 after acquiring an additional 216 shares in the last quarter. Procyon Advisors LLC grew its stake in shares of Martin Marietta Materials by 9.6% in the first quarter. Procyon Advisors LLC now owns 3,654 shares of the construction company's stock worth $1,747,000 after acquiring an additional 319 shares during the last quarter. Stablepoint Partners LLC increased its position in shares of Martin Marietta Materials by 109.7% during the first quarter. Stablepoint Partners LLC now owns 1,915 shares of the construction company's stock valued at $916,000 after purchasing an additional 1,002 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Martin Marietta Materials by 15.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,155 shares of the construction company's stock worth $552,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MLM. 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. Raymond James dropped their price objective on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Stephens reduced their target price on Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price target for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Finally, Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and an average target price of $610.69.

Martin Marietta Materials Trading Up 1.3%

Shares of MLM traded up $7.17 during midday trading on Thursday, reaching $553.02. The company had a trading volume of 239,513 shares, compared to its average volume of 486,741. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $526.00 and a 200-day simple moving average of $523.59. The stock has a market cap of $33.34 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

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, topping 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $1.93 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced 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. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is presently 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.