Renaissance Investment Group LLC Purchases 465 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Renaissance Investment Group LLC boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Get Rating) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,306 shares of the construction company’s stock after purchasing an additional 465 shares during the period. Martin Marietta Materials comprises 1.6% of Renaissance Investment Group LLC’s holdings, making the stock its 27th biggest holding. Renaissance Investment Group LLC’s holdings in Martin Marietta Materials were worth $5,511,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MLM. First Personal Financial Services bought a new position in Martin Marietta Materials during the 3rd quarter valued at about $30,000. Private Trust Co. NA purchased a new stake in Martin Marietta Materials in the 2nd quarter valued at about $37,000. Mizuho Securities Co. Ltd. purchased a new stake in Martin Marietta Materials in the 3rd quarter valued at about $45,000. Fairfield Bush & CO. purchased a new stake in Martin Marietta Materials in the 1st quarter valued at about $46,000. Finally, FourThought Financial LLC boosted its position in Martin Marietta Materials by 62.0% in the 3rd quarter. FourThought Financial LLC now owns 162 shares of the construction company’s stock valued at $52,000 after buying an additional 62 shares during the period. 93.07% of the stock is currently owned by institutional investors.

Martin Marietta Materials Trading Down 3.2 %

NYSE:MLM opened at $320.60 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $284.99 and a 52 week high of $406.85. The firm has a 50 day moving average of $354.03 and a 200 day moving average of $344.86. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $19.91 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.71 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLM – Get Rating) last posted its earnings results on Wednesday, February 15th. The construction company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.01. Martin Marietta Materials had a net margin of 14.07% and a return on equity of 11.03%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company posted $3.15 earnings per share. Martin Marietta Materials’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 14.84 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 6th will be given a dividend of $0.66 per share. The ex-dividend date is Friday, March 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 0.82%. Martin Marietta Materials’s payout ratio is 19.02%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MLM shares. The Goldman Sachs Group boosted their price objective on shares of Martin Marietta Materials from $374.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, February 15th. Atlantic Securities cut shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $375.00 to $350.00 in a research report on Tuesday, January 24th. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $400.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Raymond James upped their price target on shares of Martin Marietta Materials from $389.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Finally, StockNews.com started coverage on shares of Martin Marietta Materials in a research report on Thursday. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $404.50.

About Martin Marietta Materials

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Martin Marietta Materials, Inc engages in the provision of aggregates including crushed stone, sand, and gravel through its network of quarries and distribution yards. It operates through the following geographical segments: East Group and West Group. The East Group segments provide aggregated products only.