Whittier Trust Co. Has $7.93 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Whittier Trust Co. grew its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,593 shares of the construction company's stock after purchasing an additional 946 shares during the quarter. Whittier Trust Co.'s holdings in Martin Marietta Materials were worth $7,933,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Martin Marietta Materials by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock valued at $3,705,466,000 after purchasing an additional 36,531 shares during the period. Principal Financial Group Inc. grew its stake in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,940,423 shares of the construction company's stock valued at $927,775,000 after buying an additional 120,679 shares during the period. Geode Capital Management LLC increased its holdings in shares of Martin Marietta Materials by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after buying an additional 32,082 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Martin Marietta Materials by 5.4% during the 4th quarter. Invesco Ltd. now owns 873,629 shares of the construction company's stock worth $451,229,000 after buying an additional 44,680 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its position in shares of Martin Marietta Materials by 46.6% in the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after buying an additional 245,000 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Martin Marietta Materials Stock Up 1.1%

Shares of NYSE MLM traded up $5.80 during midday trading on Thursday, reaching $552.16. 123,689 shares of the company's stock were exchanged, compared to its average volume of 475,377. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The business's fifty day moving average price is $552.02 and its two-hundred day moving average price is $521.53. The stock has a market capitalization of $33.28 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 4.98 and a beta of 0.87.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is currently 18.20%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MLM. Stifel Nicolaus upped their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Raymond James Financial decreased their target price 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. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and raised their price target for the company from $548.00 to $634.00 in a report on Friday, May 16th. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $603.86.

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.