Park Avenue Securities LLC Purchases 184 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Park Avenue Securities LLC grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the construction company’s stock after buying an additional 184 shares during the period. Park Avenue Securities LLC’s holdings in Martin Marietta Materials were worth $1,443,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new position in Martin Marietta Materials during the 4th quarter worth $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Martin Marietta Materials during the 4th quarter worth $27,000. Benjamin Edwards Inc. grew its holdings in shares of Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Martin Marietta Materials by 84.6% during the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of several analyst reports. Stifel Nicolaus increased their target price on 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 lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Finally, Citigroup increased their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Four investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $610.27.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $544.13 on Monday. The business’s 50-day moving average price is $579.35 and its 200-day moving average price is $554.98. Martin Marietta Materials, Inc. has a 12 month low of $389.90 and a 12 month high of $626.67. The firm has a market capitalization of $33.54 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.38 and a beta of 0.93. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44.

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

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s payout ratio is 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.