Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. increased its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 15.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,959 shares of the construction company’s stock after purchasing an additional 260 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Martin Marietta Materials were worth $937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MLM. GAMMA Investing LLC grew its holdings in shares of Martin Marietta Materials by 58,570.5% during the first quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock worth $333,540,000 after buying an additional 696,403 shares in the last quarter. Alkeon Capital Management LLC boosted its position in Martin Marietta Materials by 46.6% during the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock worth $398,324,000 after acquiring an additional 245,000 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Martin Marietta Materials by 39.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 659,363 shares of the construction company’s stock worth $315,261,000 after acquiring an additional 185,731 shares during the period. Principal Financial Group Inc. raised its holdings in Martin Marietta Materials by 6.6% in 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 acquiring an additional 120,679 shares during the last quarter. Finally, Skye Global Management LP lifted its stake in shares of Martin Marietta Materials by 85.2% during the 4th quarter. Skye Global Management LP now owns 256,500 shares of the construction company’s stock worth $132,482,000 after purchasing an additional 118,000 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada initiated coverage on Martin Marietta Materials in a research report on Monday, June 16th. They issued a “sector perform” rating and a $515.00 price objective for the company. Raymond James Financial decreased their price target on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, 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 research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $605.93.

Martin Marietta Materials Trading Down 0.8%

NYSE MLM opened at $575.28 on Thursday. The firm has a market capitalization of $34.68 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 5.31 and a beta of 0.87. 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 one year low of $441.95 and a one year high of $633.23. The company’s 50 day moving average price is $555.93 and its 200 day moving average price is $525.52.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 EPS. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.55%. Martin Marietta Materials’s dividend payout ratio is currently 18.20%.

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.