Quantum Capital Management LLC NJ bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 90,394 shares of the construction company’s stock, valued at approximately $53,213,000. Martin Marietta Materials comprises about 6.8% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 6th biggest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Optima Capital LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Martin Marietta Materials by 67.9% during the first quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after purchasing an additional 19 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $31,000. Reflection Asset Management bought a new stake in shares of Martin Marietta Materials in the fourth quarter worth $35,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Martin Marietta Materials in the second quarter valued at $37,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on MLM. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Raymond James Financial reduced their price target on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Citigroup increased their price target on Martin Marietta Materials from $731.00 to $737.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Barclays decreased their price target on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Finally, Oppenheimer began coverage on Martin Marietta Materials in a research note on Thursday, May 28th. They issued a “market perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $681.53.
Martin Marietta Materials Trading Up 0.7%
MLM opened at $551.30 on Thursday. Martin Marietta Materials, Inc. has a twelve month low of $525.38 and a twelve month high of $710.97. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $576.52 and a 200-day moving average of $611.15. The stock has a market cap of $33.11 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10.
Martin Marietta Materials (NYSE:MLM – Get Free Report) last released its earnings results 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. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. Martin Marietta Materials’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. On average, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current year.
Martin Marietta Materials Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 7.91%.
About Martin Marietta Materials
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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