Park Place Capital Corp Reduces Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Park Place Capital Corp decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 59.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100 shares of the construction company’s stock after selling 147 shares during the period. Park Place Capital Corp’s holdings in Martin Marietta Materials were worth $61,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Schear Investment Advisers LLC grew its stake in shares of Martin Marietta Materials by 1.2% in the 4th 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 grew its stake in shares of Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after buying an additional 21 shares during the period. 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 valued at $76,000 after buying an additional 22 shares during the period. Global Retirement Partners LLC grew its stake in shares of Martin Marietta Materials by 5.0% in 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 during the period. Finally, Spreng Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 3.1% in 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 during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM opened at $532.05 on Tuesday. Martin Marietta Materials, Inc. has a twelve month low of $389.90 and a twelve month high of $626.67. The firm’s fifty day simple moving average is $573.14 and its 200-day simple moving average is $557.48. The firm has a market capitalization of $32.80 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.40 and a beta of 0.91. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $2.16 EPS. The company’s revenue was down 7.6% on a year-over-year basis. Equities analysts forecast that Martin Marietta Materials, Inc. will post 23.1 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.56%. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Analysts Set New Price Targets

MLM has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Truist Financial increased their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Wolfe Research cut shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $610.27.

Martin Marietta Materials 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.