Wellington Management Group LLP Grows Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Wellington Management Group LLP increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 448 shares of the construction company’s stock after acquiring an additional 23 shares during the period. Wellington Management Group LLP’s holdings in Martin Marietta Materials were worth $231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC purchased a new position in Martin Marietta Materials in the fourth quarter worth about $235,000. Waverly Advisors LLC raised its position 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 purchasing an additional 459 shares during the period. Steward Partners Investment Advisory LLC raised its position 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 purchasing an additional 796 shares during the period. Captrust Financial Advisors raised its position 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 purchasing an additional 1,315 shares during the period. Finally, Benjamin Edwards Inc. raised its position 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 purchasing an additional 233 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLM. Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. UBS Group raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Raymond James reduced their price objective on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Finally, Seaport Res Ptn raised shares of Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.69.

Martin Marietta Materials Price Performance

Shares of MLM opened at $551.29 on Monday. The company has a market cap of $33.23 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $521.85 and a two-hundred day moving average of $523.52.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Martin Marietta Materials’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.79 dividend. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Martin Marietta Materials’s dividend 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.