Oppenheimer & Co. Inc. Reduces Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Oppenheimer & Co. Inc. trimmed its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,870 shares of the construction company’s stock after selling 446 shares during the period. Oppenheimer & Co. Inc.’s holdings in Martin Marietta Materials were worth $9,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of 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 boosted its position in Martin Marietta Materials by 78.9% in the fourth 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 last quarter. Steward Partners Investment Advisory LLC boosted its position in Martin Marietta Materials by 64.6% in the fourth 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 last quarter. Fifth Third Bancorp boosted its position in Martin Marietta Materials by 5.0% in the first quarter. Fifth Third Bancorp now owns 7,357 shares of the construction company’s stock worth $3,518,000 after purchasing an additional 352 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Martin Marietta Materials by 4.4% in the fourth 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 last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and raised their target price for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. JPMorgan Chase & Co. cut Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Raymond James Financial lowered their price objective on 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. Royal Bank Of Canada began coverage on Martin Marietta Materials in a research report on Monday, June 16th. They set a “sector perform” rating and a $515.00 price objective on the stock. Finally, Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $603.86.

Martin Marietta Materials Stock Up 2.6%

Shares of MLM opened at $552.40 on Tuesday. The business’s 50 day moving average is $536.95 and its 200 day moving average is $519.91. The company has a market capitalization of $33.30 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 4.88 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. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. The company had revenue of $1.35 billion for 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 firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.93 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 18.20%.

About Martin Marietta Materials

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.