Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 65.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,343 shares of the construction company’s stock after selling 2,508 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Martin Marietta Materials were worth $825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth $27,000. Benjamin Edwards Inc. grew its holdings 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 period. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Martin Marietta Materials by 74.3% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $544.13 on Friday. The stock has a 50-day simple moving average of $579.35 and a 200-day simple moving average of $554.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The stock has a market capitalization of $33.54 billion, a PE ratio of 16.12, a PEG ratio of 2.38 and a beta of 0.93. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. On average, analysts predict that Martin Marietta Materials, Inc. will post 23.29 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed 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. This represents a $2.96 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s payout ratio is presently 8.77%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Truist Financial increased their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Citigroup increased their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Company Profile

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.