Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 1.0% in the first quarter, Holdings Channel.com reports. The fund owned 710,253 shares of the construction company’s stock after selling 7,096 shares during the period. Martin Marietta Materials makes up approximately 1.6% of King Luther Capital Management Corp’s investment portfolio, making the stock its 13th biggest position. King Luther Capital Management Corp’s holdings in Martin Marietta Materials were worth $339,593,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at approximately $235,000. Waverly Advisors LLC boosted 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 valued at $538,000 after purchasing an additional 459 shares during the period. Mather Group LLC. boosted its stake in shares of Martin Marietta Materials by 65.5% in the first quarter. Mather Group LLC. now owns 278 shares of the construction company’s stock valued at $133,000 after purchasing an additional 110 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Martin Marietta Materials by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,007 shares of the construction company’s stock valued at $1,457,000 after purchasing an additional 40 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in shares of Martin Marietta Materials by 30.5% in the first quarter. Vontobel Holding Ltd. now owns 933 shares of the construction company’s stock valued at $446,000 after purchasing an additional 218 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James Financial boosted their price target on shares of Martin Marietta Materials from $600.00 to $645.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus lifted their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Wall Street Zen raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $700.00 price objective on shares of Martin Marietta Materials in a research report on Monday, August 4th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $615.60.

Martin Marietta Materials Stock Up 2.0%

Shares of NYSE:MLM opened at $612.09 on Friday. The company has a market capitalization of $36.90 billion, a PE ratio of 33.95, a P/E/G ratio of 5.59 and a beta of 0.89. The company has a current ratio of 2.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The firm has a 50 day simple moving average of $561.39 and a 200-day simple moving average of $528.42.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Thursday, August 7th. The construction company reported $5.43 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.01). The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.88 billion. Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.76 earnings per share. On average, equities analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials’s payout ratio is presently 18.20%.

Martin Marietta Materials Company 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.