Frank Rimerman Advisors LLC trimmed its stake in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 916 shares of the construction company’s stock after selling 157 shares during the period. Frank Rimerman Advisors LLC’s holdings in Martin Marietta Materials were worth $438,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials in the 1st quarter worth $29,000. Chilton Capital Management LLC acquired a new stake in Martin Marietta Materials in the 1st quarter worth $30,000. Zions Bancorporation National Association UT acquired a new stake in Martin Marietta Materials in the 1st quarter worth $30,000. IMA Advisory Services Inc. acquired a new stake in Martin Marietta Materials in the 1st quarter worth $40,000. Finally, Valley National Advisers Inc. grew its position in Martin Marietta Materials by 193.9% in the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company’s stock worth $45,000 after purchasing an additional 64 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have issued reports on MLM shares. Stifel Nicolaus raised 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 report on Thursday, May 1st. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada raised their price objective on shares of Martin Marietta Materials from $515.00 to $525.00 and gave the stock a “sector perform” rating in a report on Friday. Bank of America raised their price objective on shares of Martin Marietta Materials from $577.00 to $643.00 and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Finally, Raymond James Financial raised their price objective on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $615.60.
Martin Marietta Materials Trading Up 2.0%
Shares of MLM stock opened at $612.09 on Monday. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The company has a market capitalization of $36.92 billion, a P/E ratio of 33.95, a P/E/G ratio of 5.58 and a beta of 0.89. The firm has a 50-day moving average price of $561.39 and a 200 day moving average price of $528.28. The company has a quick ratio of 1.21, a current ratio of 2.35 and a debt-to-equity ratio of 0.56.
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 (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business earned $4.76 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.
Martin Marietta Materials Dividend Announcement
The business 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 of this dividend was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials’s payout ratio is currently 17.53%.
Martin Marietta Materials 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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