Yousif Capital Management LLC Trims Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Yousif Capital Management LLC lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,366 shares of the construction company’s stock after selling 26 shares during the quarter. Yousif Capital Management LLC’s holdings in Martin Marietta Materials were worth $3,522,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MLM. Proficio Capital Partners LLC raised its position in shares of Martin Marietta Materials by 54,277.3% during the 4th quarter. Proficio Capital Partners LLC now owns 918,432 shares of the construction company’s stock valued at $474,370,000 after buying an additional 916,743 shares during the period. GAMMA Investing LLC raised its position in shares of Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company’s stock valued at $333,540,000 after buying an additional 696,403 shares during the period. Norges Bank purchased a new stake in shares of Martin Marietta Materials during the 4th quarter valued at approximately $306,863,000. Raymond James Financial Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $196,374,000. Finally, Alkeon Capital Management LLC raised its position in Martin Marietta Materials by 46.6% in the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company’s stock valued at $398,324,000 after purchasing an additional 245,000 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $553.02 on Friday. The company has a fifty day simple moving average of $526.00 and a two-hundred day simple moving average of $523.59. The company has a market cap of $33.34 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS 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 net margin of 30.54% and a return on equity of 12.11%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.93 earnings per share. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company 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. The ex-dividend date of this dividend 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 payout ratio is currently 18.20%.

Analysts Set New Price Targets

MLM has been the topic of a number of research analyst reports. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. Truist Financial cut their target price on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered Martin Marietta Materials from an “overweight” rating to a “neutral” rating and cut their target price for the company from $640.00 to $560.00 in a research report on Wednesday, March 19th. Wall Street Zen lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Finally, Barclays cut their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $610.69.

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.