Raymond James Financial Services Advisors Inc. Purchases 12,275 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 141.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,978 shares of the construction company’s stock after buying an additional 12,275 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Martin Marietta Materials were worth $12,879,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of Martin Marietta Materials in the first quarter worth about $26,000. MV Capital Management Inc. lifted its stake in shares of Martin Marietta Materials by 144.4% in the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after acquiring an additional 39 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $27,000. Institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their price target on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Citigroup raised their price target on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Raymond James boosted their price objective on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley assumed coverage on shares of Martin Marietta Materials in a report on Monday, January 8th. They set an “overweight” rating and a $595.00 target price for the company. Finally, Stephens boosted their price target on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $588.69.

Martin Marietta Materials Stock Up 0.2 %

Martin Marietta Materials stock traded up $1.07 on Friday, hitting $591.03. 491,967 shares of the stock traded hands, compared to its average volume of 472,357. The business’s fifty day simple moving average is $598.46 and its 200 day simple moving average is $522.18. The firm has a market cap of $36.43 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95. The company has a current ratio of 3.16, a quick ratio of 2.50 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 1 year low of $384.61 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. As a group, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were paid a $0.74 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.96 annualized dividend and a dividend yield of 0.50%. Martin Marietta Materials’s payout ratio is currently 8.77%.

Insider Activity at Martin Marietta Materials

In other news, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sue W. Cole sold 1,724 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $543.48, for a total value of $936,959.52. Following the transaction, the director now directly owns 19,793 shares of the company’s stock, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the sale, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock valued at $16,033,760 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

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.