Global Assets Advisory LLC Purchases Shares of 36,265 Martin Marietta Materials, Inc. (NYSE:MLM)

Global Assets Advisory LLC purchased a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,265 shares of the construction company's stock, valued at approximately $22,265,000. Global Assets Advisory LLC owned about 0.06% of Martin Marietta Materials as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLM. Norges Bank bought a new position in Martin Marietta Materials in the 4th quarter worth $308,705,000. Balyasny Asset Management L.P. raised its holdings in Martin Marietta Materials by 4,244.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 277,182 shares of the construction company's stock worth $138,289,000 after purchasing an additional 270,802 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company's stock worth $838,421,000 after purchasing an additional 181,136 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Martin Marietta Materials by 306.8% in the 4th quarter. Corient Private Wealth LLC now owns 161,690 shares of the construction company's stock worth $80,668,000 after purchasing an additional 121,941 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Martin Marietta Materials in the 3rd quarter worth $34,736,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MLM has been the subject of several research reports. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a "buy" rating in a report on Monday, April 15th. StockNews.com cut Martin Marietta Materials from a "buy" rating to a "hold" rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Wolfe Research lowered shares of Martin Marietta Materials from an "outperform" rating to a "peer perform" rating in a research report on Friday, March 8th. Finally, The Goldman Sachs Group upped their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and an average target price of $610.27.

Martin Marietta Materials Stock Performance

Shares of NYSE:MLM traded down $6.51 during trading on Tuesday, hitting $534.66. 647,271 shares of the stock traded hands, compared to its average volume of 419,659. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 2.39 and a beta of 0.93. The company has a fifty day moving average price of $578.18 and a two-hundred day moving average price of $555.51. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The business's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. As a group, equities analysts predict that Martin Marietta Materials, Inc. will post 23.29 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. Martin Marietta Materials's payout ratio is 8.77%.

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.