Global Assets Advisory LLC Takes Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Global Assets Advisory LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 36,265 shares of the construction company’s stock, valued at approximately $22,265,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials during the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials in the 4th quarter worth $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Martin Marietta Materials during the 4th quarter worth $27,000. Benjamin Edwards Inc. lifted its stake in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Finally, Covestor Ltd boosted its position in Martin Marietta Materials by 84.6% during the third quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $540.68 on Tuesday. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The company has a market cap of $33.33 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93. The company’s 50 day moving average is $578.18 and its 200 day moving average is $555.51.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 earnings per share. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 23.29 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a $0.74 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. Martin Marietta Materials’s payout ratio is 8.77%.

Wall Street Analyst Weigh In

MLM has been the subject of several analyst reports. Truist Financial increased their price target on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. The Goldman Sachs Group raised their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $610.27.

About Martin Marietta Materials

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.