RDST Capital LLC decreased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 6.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 95,095 shares of the construction company’s stock after selling 6,405 shares during the period. Martin Marietta Materials makes up about 5.4% of RDST Capital LLC’s investment portfolio, making the stock its 11th biggest position. RDST Capital LLC’s holdings in Martin Marietta Materials were worth $55,981,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in MLM. Victory Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 51.8% during the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after acquiring an additional 836,120 shares in the last quarter. Norges Bank acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth about $354,681,000. Bank of America Corp DE lifted its stake in shares of Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after acquiring an additional 565,856 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Martin Marietta Materials by 241.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 303,031 shares of the construction company’s stock valued at $188,686,000 after purchasing an additional 214,270 shares during the last quarter. Finally, Interval Partners LP purchased a new position in Martin Marietta Materials in the fourth quarter valued at about $128,996,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on MLM. Weiss Ratings upgraded Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 25th. Morgan Stanley reduced their target price on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Citigroup raised their price target on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a report on Thursday, April 2nd. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $681.53.
Martin Marietta Materials Stock Up 2.1%
NYSE:MLM opened at $583.97 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a market capitalization of $35.07 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. Martin Marietta Materials, Inc. has a one year low of $525.38 and a one year high of $710.97. The stock has a 50-day simple moving average of $577.34 and a 200 day simple moving average of $609.16.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 17.2% compared to the same quarter last year. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.
Martin Marietta Materials Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given 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 is currently 7.91%.
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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