Martin Marietta Materials, Inc. (NYSE:MLM) Position Boosted by American International Group Inc.

American International Group Inc. raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,694 shares of the construction company’s stock after acquiring an additional 341 shares during the quarter. American International Group Inc.’s holdings in Martin Marietta Materials were worth $8,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Schear Investment Advisers LLC grew its stake in shares of Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after buying an additional 21 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after buying an additional 22 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after buying an additional 22 shares in the last quarter. Finally, Spreng Capital Management Inc. boosted its position in Martin Marietta Materials by 3.1% during the fourth quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock worth $387,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MLM shares. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. Citigroup upped their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $600.00 target price (up previously from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Stifel Nicolaus upped their target price on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group upped their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $610.27.

Martin Marietta Materials Price Performance

Shares of MLM stock opened at $558.62 on Thursday. The stock has a 50-day moving average price of $581.85 and a 200 day moving average price of $553.19. 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 firm has a market cap of $34.43 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.52 and a beta of 0.93. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.74% and a net margin of 31.35%. The company’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 23.29 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.74 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.53%. Martin Marietta Materials’s payout ratio is currently 8.77%.

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.