Martin Marietta Materials, Inc. (NYSE:MLM) Shares Sold by Simon Quick Advisors LLC

Simon Quick Advisors LLC reduced its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,339 shares of the construction company’s stock after selling 414 shares during the period. Simon Quick Advisors LLC’s holdings in Martin Marietta Materials were worth $2,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sunbeam Capital Management LLC purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $235,000. Waverly Advisors LLC boosted its holdings in Martin Marietta Materials by 78.9% in the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company’s stock worth $538,000 after acquiring an additional 459 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Martin Marietta Materials by 64.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company’s stock worth $1,047,000 after acquiring an additional 796 shares during the period. Captrust Financial Advisors boosted its holdings in Martin Marietta Materials by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 31,092 shares of the construction company’s stock worth $16,059,000 after acquiring an additional 1,315 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Martin Marietta Materials by 16.9% in the 4th quarter. Benjamin Edwards Inc. now owns 1,609 shares of the construction company’s stock worth $831,000 after acquiring an additional 233 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MLM. Loop Capital cut their target price on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. UBS Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and upped their target price for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. Truist Financial cut their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley upped their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $610.69.

Martin Marietta Materials Stock Performance

MLM stock opened at $545.95 on Thursday. The firm has a market cap of $32.91 billion, a P/E ratio of 16.89, a P/E/G ratio of 4.45 and a beta of 0.89. The stock’s 50 day simple moving average is $526.00 and its 200 day simple moving average is $523.59. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s payout ratio is currently 18.20%.

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.