Impact Capital Partners LLC Decreases Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Impact Capital Partners LLC trimmed its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 954 shares of the construction company’s stock after selling 59 shares during the period. Impact Capital Partners LLC’s holdings in Martin Marietta Materials were worth $456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in Martin Marietta Materials during the fourth quarter valued at $235,000. Waverly Advisors LLC lifted its stake in shares of Martin Marietta Materials by 78.9% in the fourth quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company’s stock worth $538,000 after buying an additional 459 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Martin Marietta Materials by 64.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company’s stock worth $1,047,000 after acquiring an additional 796 shares during the last quarter. Captrust Financial Advisors grew its stake in Martin Marietta Materials by 4.4% during the 4th quarter. Captrust Financial Advisors now owns 31,092 shares of the construction company’s stock valued at $16,059,000 after acquiring an additional 1,315 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in Martin Marietta Materials by 16.9% in the 4th quarter. Benjamin Edwards Inc. now owns 1,609 shares of the construction company’s stock valued at $831,000 after acquiring an additional 233 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Loop Capital decreased their target price on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Barclays decreased their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $610.69.

Martin Marietta Materials Stock Up 0.2%

MLM stock opened at $551.29 on Friday. The firm has a market cap of $33.23 billion, a PE ratio of 17.05, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The firm’s 50 day moving average price is $521.85 and its 200-day moving average price is $524.42. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.93 EPS. On average, equities research analysts anticipate 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 will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials’s payout ratio is 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.