Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,355 shares of the construction company’s stock after purchasing an additional 70 shares during the period. New England Research & Management Inc.’s holdings in Martin Marietta Materials were worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MLM. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC acquired a new stake in Martin Marietta Materials in the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake 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 valued at $37,000 after acquiring an additional 34 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

MLM opened at $541.87 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a fifty day moving average price of $527.88 and a 200 day moving average price of $523.24. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The stock has a market cap of $32.67 billion, a P/E ratio of 16.76, a P/E/G ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials’s dividend payout ratio is presently 18.20%.

Analyst Ratings Changes

Several analysts have commented on MLM shares. Morgan Stanley lifted their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James decreased their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Loop Capital decreased their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Finally, Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus target price of $610.69.

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.