Stablepoint Partners LLC Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Stablepoint Partners LLC lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 109.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,915 shares of the construction company's stock after purchasing an additional 1,002 shares during the period. Stablepoint Partners LLC's holdings in Martin Marietta Materials were worth $916,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $35,000. Hopwood Financial Services Inc. purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its stake in 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 buying an additional 34 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Truist Financial cut their target price on Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Raymond James reduced their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. One 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $610.69.

Martin Marietta Materials Stock Up 0.2%

NYSE:MLM opened at $551.29 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month 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. The company's 50 day moving average is $521.85 and its two-hundred day moving average is $524.42.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. Analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis 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 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.

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