Socorro Asset Management LP Has $6.81 Million Holdings in Martin Marietta Materials, Inc. $MLM

Socorro Asset Management LP trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 16.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 11,572 shares of the construction company’s stock after selling 2,322 shares during the period. Martin Marietta Materials accounts for approximately 3.1% of Socorro Asset Management LP’s investment portfolio, making the stock its 19th biggest position. Socorro Asset Management LP’s holdings in Martin Marietta Materials were worth $6,812,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP raised its position in Martin Marietta Materials by 42.5% in the first quarter. Quantinno Capital Management LP now owns 57,256 shares of the construction company’s stock valued at $33,706,000 after purchasing an additional 17,073 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Martin Marietta Materials by 6.3% during the first quarter. Lazard Asset Management LLC now owns 16,881 shares of the construction company’s stock worth $9,938,000 after purchasing an additional 1,003 shares during the last quarter. Gateway Wealth Partners LLC acquired a new position in shares of Martin Marietta Materials in the first quarter valued at approximately $367,000. OMERS ADMINISTRATION Corp increased its stake in shares of Martin Marietta Materials by 131.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,117 shares of the construction company’s stock valued at $3,012,000 after buying an additional 2,908 shares during the period. Finally, Bradley Foster & Sargent Inc. CT bought a new position in Martin Marietta Materials in the 1st quarter valued at approximately $5,232,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $573.11 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The company has a 50 day simple moving average of $576.33 and a two-hundred day simple moving average of $609.45. The company has a market capitalization of $34.41 billion, a PE ratio of 13.66, a P/E/G ratio of 2.37 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $1.90 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were issued a $0.83 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is presently 7.91%.

Wall Street Analyst Weigh In

MLM has been the topic of several recent research reports. Berenberg Bank set a $556.00 target price on shares of Martin Marietta Materials and gave the stock a “hold” rating in a research report on Tuesday, June 2nd. Barclays dropped their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. Morgan Stanley cut their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Citigroup boosted their price objective on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada decreased their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating for the company in a report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.53.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.