Tran Capital Management L.P. Buys 5,000 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Tran Capital Management L.P. lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.9% in the first quarter, Holdings Channel.com reports. The fund owned 55,616 shares of the construction company’s stock after purchasing an additional 5,000 shares during the period. Martin Marietta Materials makes up approximately 3.6% of Tran Capital Management L.P.’s portfolio, making the stock its 11th biggest position. Tran Capital Management L.P.’s holdings in Martin Marietta Materials were worth $26,592,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MLM. Empowered Funds LLC boosted its holdings in shares of Martin Marietta Materials by 14.1% in the fourth quarter. Empowered Funds LLC now owns 1,264 shares of the construction company’s stock worth $653,000 after acquiring an additional 156 shares during the period. Leavell Investment Management Inc. boosted its holdings in shares of Martin Marietta Materials by 15.1% in the fourth quarter. Leavell Investment Management Inc. now owns 4,661 shares of the construction company’s stock worth $2,407,000 after acquiring an additional 613 shares during the period. Marks Group Wealth Management Inc boosted its holdings in shares of Martin Marietta Materials by 14.9% in the fourth quarter. Marks Group Wealth Management Inc now owns 812 shares of the construction company’s stock worth $419,000 after acquiring an additional 105 shares during the period. Castle Wealth Management LLC boosted its stake in Martin Marietta Materials by 5.1% during the fourth quarter. Castle Wealth Management LLC now owns 1,077 shares of the construction company’s stock valued at $556,000 after buying an additional 52 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Martin Marietta Materials by 36.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 31,142 shares of the construction company’s stock valued at $16,469,000 after buying an additional 8,367 shares during the period. 95.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MLM. UBS Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Stifel Nicolaus lifted their price objective 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. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Truist Financial dropped their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Barclays dropped their price objective on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.69.

Martin Marietta Materials Trading Down 1.5%

Shares of MLM stock opened at $545.95 on Thursday. 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 business has a 50-day moving average price of $526.00 and a two-hundred day moving average price of $523.59. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The firm has a market cap of $32.91 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 18.20%.

Martin Marietta Materials Company 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.