Fisher Funds Management LTD Sells 26,307 Shares of Martin Marietta Materials, Inc. $MLM

Fisher Funds Management LTD cut its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 45.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,643 shares of the construction company’s stock after selling 26,307 shares during the period. Fisher Funds Management LTD’s holdings in Martin Marietta Materials were worth $18,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Integrated Wealth Concepts LLC grew its position in shares of Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after buying an additional 49 shares during the period. Empowered Funds LLC lifted its holdings in Martin Marietta Materials by 11.4% in the first quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after buying an additional 144 shares during the period. Sivia Capital Partners LLC lifted its holdings in Martin Marietta Materials by 11.1% in the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock valued at $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Martin Marietta Materials by 205.9% in the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock valued at $143,000 after buying an additional 175 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group set a $739.00 target price on shares of Martin Marietta Materials in a report on Sunday, May 10th. B. Riley Financial raised Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target on the stock in a research note on Thursday, April 2nd. Wells Fargo & Company raised their price target on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Zacks Research raised Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a report on Monday, April 27th. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $681.94.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM opened at $609.20 on Monday. The stock has a 50 day moving average price of $589.25 and a 200 day moving average price of $618.25. Martin Marietta Materials, Inc. has a 52 week low of $525.38 and a 52 week high of $710.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The stock has a market capitalization of $36.58 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $1.90 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. Analysts predict that Martin Marietta Materials, Inc. will post 19.41 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 Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s payout ratio is presently 7.91%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.