Heritage Investors Management Corp trimmed its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,239 shares of the construction company’s stock after selling 1,538 shares during the period. Martin Marietta Materials comprises approximately 1.1% of Heritage Investors Management Corp’s portfolio, making the stock its 26th largest position. Heritage Investors Management Corp’s holdings in Martin Marietta Materials were worth $36,639,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of MLM. Optima Capital LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at about $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $31,000. Union Bancaire Privee UBP SA purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $36,000. Finally, Reflection Asset Management purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $35,000. 95.04% of the stock is owned by institutional investors.
Martin Marietta Materials Stock Up 3.6%
NYSE MLM opened at $599.97 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11. The stock has a market capitalization of $36.03 billion, a PE ratio of 14.30, a PEG ratio of 2.46 and a beta of 1.10. Martin Marietta Materials, Inc. has a 1 year low of $525.38 and a 1 year high of $710.97. The business’s 50-day moving average is $585.20 and its 200 day moving average is $617.03.
Martin Marietta Materials Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.
Analyst Ratings Changes
A number of equities analysts have commented on MLM shares. Citigroup decreased their price target on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Wells Fargo & Company increased their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Raymond James Financial restated an “outperform” rating on shares of Martin Marietta Materials in a report on Monday. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 target price on the stock in a report on Thursday, April 2nd. Finally, Oppenheimer started coverage on shares of Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $681.94.
Read Our Latest Analysis on MLM
Martin Marietta Materials Company Profile
Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.
In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.
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