GAMMA Investing LLC Acquires 270 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

GAMMA Investing LLC increased its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 22.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,459 shares of the construction company’s stock after acquiring an additional 270 shares during the period. GAMMA Investing LLC’s holdings in Martin Marietta Materials were worth $698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials in the fourth quarter worth approximately $36,000. EverSource Wealth Advisors LLC increased its holdings in Martin Marietta Materials by 91.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after purchasing an additional 34 shares during the period. Bellwether Advisors LLC bought a new stake in Martin Marietta Materials during the 4th quarter valued at $46,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Martin Marietta Materials in the 4th quarter worth $47,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.2%

Shares of MLM stock opened at $548.70 on Tuesday. The stock’s fifty day moving average price is $542.23 and its 200 day moving average price is $519.36. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $633.23. The company has a market cap of $33.08 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 4.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. The business 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 12.01% and a net margin of 16.07%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.93 earnings per share. On average, research analysts expect that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on MLM. UBS Group upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their price target for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Royal Bank Of Canada initiated coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They set a “sector perform” rating and a $515.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Finally, Loop Capital reduced their price objective on shares of Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.