M.D. Sass LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,109 shares of the construction company’s stock after acquiring an additional 11,905 shares during the period. Martin Marietta Materials makes up about 4.6% of M.D. Sass LLC’s investment portfolio, making the stock its 7th biggest position. M.D. Sass LLC owned approximately 0.17% of Martin Marietta Materials worth $60,698,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Optima Capital LLC acquired a new position in Martin Marietta Materials during the fourth quarter worth $25,000. Meeder Asset Management Inc. grew its holdings in Martin Marietta Materials by 67.9% in the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $31,000. Reflection Asset Management purchased a new position in shares of Martin Marietta Materials in the fourth quarter valued at $35,000. Finally, Quarry LP acquired a new position in shares of Martin Marietta Materials during the 3rd quarter worth $38,000. 95.04% of the stock is owned by hedge funds and other institutional investors.
Martin Marietta Materials Stock Down 0.7%
Shares of NYSE:MLM opened at $546.91 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The stock’s fifty day simple moving average is $575.94 and its 200-day simple moving average is $610.54. The company has a market capitalization of $32.84 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.33 and a beta of 1.10.
Martin Marietta Materials Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 7.91%.
Analyst Upgrades and Downgrades
Several research firms recently commented on MLM. B. Riley Financial upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Monday. UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a research report on Sunday, May 10th. Weiss Ratings upgraded shares of Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Finally, Berenberg Bank set a $556.00 price target on shares of Martin Marietta Materials and gave the company a “hold” rating in a report on Tuesday, June 2nd. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $681.53.
Martin Marietta Materials 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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