Ballentine Partners LLC Raises Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Ballentine Partners LLC increased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,257 shares of the construction company’s stock after purchasing an additional 29 shares during the quarter. Ballentine Partners LLC’s holdings in Martin Marietta Materials were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MLM. Schear Investment Advisers LLC lifted its position in Martin Marietta Materials by 1.2% during the fourth quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after buying an additional 20 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 1.8% during the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after buying an additional 22 shares during the last quarter. Global Retirement Partners LLC increased its position in Martin Marietta Materials by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after buying an additional 22 shares in the last quarter. Finally, Spreng Capital Management Inc. increased its position in Martin Marietta Materials by 3.1% during the 4th quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after buying an additional 23 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Martin Marietta Materials Price Performance

NYSE MLM traded down $2.13 during trading on Monday, hitting $542.00. 9,398 shares of the stock traded hands, compared to its average volume of 414,588. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The firm has a 50-day simple moving average of $579.35 and a 200-day simple moving average of $554.98. The company has a market capitalization of $33.41 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.93.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results 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 firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations 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 revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 EPS. As a group, analysts predict that Martin Marietta Materials, Inc. will post 23.29 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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

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.