Griffin Asset Management Inc. Has $1.06 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Griffin Asset Management Inc. boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,216 shares of the construction company’s stock after purchasing an additional 55 shares during the period. Griffin Asset Management Inc.’s holdings in Martin Marietta Materials were worth $1,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MLM. Empowered Funds LLC lifted its stake in Martin Marietta Materials by 14.1% in the 4th quarter. Empowered Funds LLC now owns 1,264 shares of the construction company’s stock valued at $653,000 after purchasing an additional 156 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in Martin Marietta Materials by 36.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 31,142 shares of the construction company’s stock valued at $16,469,000 after buying an additional 8,367 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Martin Marietta Materials by 8.8% in the 4th quarter. V Square Quantitative Management LLC now owns 1,348 shares of the construction company’s stock valued at $696,000 after buying an additional 109 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in Martin Marietta Materials by 5.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 861 shares of the construction company’s stock valued at $445,000 after buying an additional 43 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in Martin Marietta Materials in the 4th quarter valued at about $726,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MLM shares. Stifel Nicolaus upped their price target 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. 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 report on Tuesday, April 1st. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Raymond James decreased their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Finally, UBS Group upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their price target for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Price Performance

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

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.93 earnings per share. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

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.