Vestmark Advisory Solutions Inc. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 74.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,844 shares of the construction company's stock after purchasing an additional 4,620 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Martin Marietta Materials were worth $5,185,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of MLM. OneDigital Investment Advisors LLC grew its stake in Martin Marietta Materials by 1.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,020 shares of the construction company's stock valued at $527,000 after acquiring an additional 19 shares during the period. Net Worth Advisory Group raised its stake in Martin Marietta Materials by 2.2% in the first quarter. Net Worth Advisory Group now owns 993 shares of the construction company's stock valued at $475,000 after buying an additional 21 shares during the period. PDS Planning Inc raised its stake in Martin Marietta Materials by 4.9% in the first quarter. PDS Planning Inc now owns 452 shares of the construction company's stock valued at $216,000 after buying an additional 21 shares during the period. Financial Management Professionals Inc. grew its position in shares of Martin Marietta Materials by 3.5% in the first quarter. Financial Management Professionals Inc. now owns 652 shares of the construction company's stock valued at $312,000 after purchasing an additional 22 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Martin Marietta Materials by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 448 shares of the construction company's stock worth $231,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.
Insider Buying and Selling at Martin Marietta Materials
In related news, Director Laree E. Perez sold 1,038 shares of Martin Marietta Materials stock in a transaction on Friday, August 8th. The shares were sold at an average price of $613.32, for a total transaction of $636,626.16. Following the transaction, the director owned 15,417 shares in the company, valued at approximately $9,455,554.44. The trade was a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.68% of the stock is currently owned by company insiders.
Martin Marietta Materials Price Performance
Shares of Martin Marietta Materials stock traded down $2.82 during trading hours on Friday, hitting $609.68. The company's stock had a trading volume of 302,898 shares, compared to its average volume of 425,726. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.21 and a current ratio of 2.35. The business has a 50 day moving average price of $567.83 and a two-hundred day moving average price of $530.64. The company has a market cap of $36.77 billion, a PE ratio of 33.81, a PEG ratio of 5.56 and a beta of 0.89.
Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.76 EPS. Analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.
Martin Marietta Materials Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.83 per share. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is 17.53%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Raymond James Financial raised their target price on Martin Marietta Materials from $600.00 to $645.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Royal Bank Of Canada restated a "sector perform" rating and set a $525.00 price target (up from $515.00) on shares of Martin Marietta Materials in a research report on Friday, August 8th. Bank of America increased their price target on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley raised their target price on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Stephens restated an "overweight" rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $622.63.
Check Out Our Latest Analysis on MLM
About Martin Marietta Materials
(
Free Report)
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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