Mcdaniel Terry & Co. Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Mcdaniel Terry & Co. bought a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 540 shares of the construction company’s stock, valued at approximately $258,000.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock valued at $333,540,000 after purchasing an additional 696,403 shares during the period. Norges Bank acquired a new position in Martin Marietta Materials during the 4th quarter worth $306,863,000. Raymond James Financial Inc. acquired a new position in Martin Marietta Materials during the 4th quarter worth $196,374,000. Alkeon Capital Management LLC raised its stake in shares of Martin Marietta Materials by 46.6% in the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock worth $398,324,000 after buying an additional 245,000 shares in the last quarter. Finally, Amundi raised its stake in shares of Martin Marietta Materials by 10.5% in the 4th quarter. Amundi now owns 1,562,146 shares of the construction company’s stock worth $808,005,000 after buying an additional 148,065 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Trading Up 1.8%

Martin Marietta Materials stock opened at $550.34 on Friday. The business has a 50 day moving average price of $539.84 and a two-hundred day moving average price of $520.01. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 4.90 and a beta of 0.89. 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 posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS. As a group, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a $0.79 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.57%. Martin Marietta Materials’s payout ratio is 18.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MLM shares. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. Royal Bank Of Canada initiated coverage on Martin Marietta Materials in a report on Monday, June 16th. They set a “sector perform” rating and a $515.00 price target on the stock. Stifel Nicolaus boosted their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and boosted their target price for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Morgan Stanley upped their price target on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $603.86.

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.