Cambridge Investment Research Advisors Inc. raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,720 shares of the construction company’s stock after acquiring an additional 136 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Martin Marietta Materials were worth $1,595,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in MLM. Fiduciary Alliance LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $28,000. Ronald Blue Trust Inc. raised its stake in Martin Marietta Materials by 64.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 94 shares of the construction company’s stock valued at $31,000 after acquiring an additional 37 shares during the last quarter. Concord Wealth Partners purchased a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $34,000. Arcus Capital Partners LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at approximately $35,000. Finally, Fairfield Bush & CO. purchased a new stake in Martin Marietta Materials during the 1st quarter valued at approximately $46,000. 93.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
MLM has been the subject of a number of analyst reports. DA Davidson increased their target price on Martin Marietta Materials from $450.00 to $465.00 in a research note on Wednesday, May 10th. Atlantic Securities downgraded Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $375.00 to $350.00 in a research note on Tuesday, January 24th. Morgan Stanley cut their target price on Martin Marietta Materials from $390.00 to $386.00 and set an “equal weight” rating for the company in a research note on Thursday, April 20th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Martin Marietta Materials in a research note on Friday, February 10th. Finally, StockNews.com initiated coverage on Martin Marietta Materials in a research note on Thursday. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus price target of $412.75.
Martin Marietta Materials Stock Up 1.2 %
Martin Marietta Materials (NYSE:MLM – Get Rating) last issued its earnings results on Thursday, May 4th. The construction company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $1.17. Martin Marietta Materials had a return on equity of 12.31% and a net margin of 15.39%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. Martin Marietta Materials’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 15.84 earnings per share for the current fiscal year.
Martin Marietta Materials Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.66 per share. The ex-dividend date is Wednesday, May 31st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.65%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 17.04%.
About Martin Marietta Materials
Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.
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