Stablepoint Partners LLC Acquires 1,002 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Stablepoint Partners LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 109.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLM. Lee Danner & Bass Inc. purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $28,000. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. acquired a new position in shares of Martin Marietta Materials in the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Martin Marietta Materials by 91.9% during the 4th 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 institutional investors and hedge funds.

Martin Marietta Materials Trading Down 0.0%

Martin Marietta Materials stock traded down $0.17 during trading hours on Tuesday, reaching $554.32. 295,199 shares of the company's stock traded hands, compared to its average volume of 487,288. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 4.45 and a beta of 0.89. The firm's 50 day moving average is $524.49 and its 200-day moving average is $523.44.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly 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. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business earned $1.93 EPS. The firm's revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on MLM. Stephens reduced their target price on shares of 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 shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Stifel Nicolaus lifted 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 note on Thursday, May 1st. Loop Capital cut their price target on shares of 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. Finally, Seaport Res Ptn upgraded shares of Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.