O Shaughnessy Asset Management LLC Acquires 1,003 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

O Shaughnessy Asset Management LLC grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,843 shares of the construction company’s stock after acquiring an additional 1,003 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Martin Marietta Materials were worth $2,359,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Covestor Ltd lifted its holdings in shares of Martin Marietta Materials by 151.0% in the first quarter. Covestor Ltd now owns 256 shares of the construction company’s stock valued at $158,000 after purchasing an additional 154 shares in the last quarter. Hirtle Callaghan & Co LLC bought a new stake in Martin Marietta Materials in the 1st quarter valued at approximately $207,000. Ironsides Asset Advisors LLC boosted its position in Martin Marietta Materials by 7.4% during the 1st quarter. Ironsides Asset Advisors LLC now owns 856 shares of the construction company’s stock worth $526,000 after acquiring an additional 59 shares during the last quarter. Cercano Management LLC grew its stake in shares of Martin Marietta Materials by 17.3% during the 1st quarter. Cercano Management LLC now owns 50,096 shares of the construction company’s stock worth $30,756,000 after acquiring an additional 7,391 shares in the last quarter. Finally, Allstate Corp bought a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $235,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MLM shares. Truist Financial lifted their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. StockNews.com downgraded shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Loop Capital lowered their price objective on shares of Martin Marietta Materials from $710.00 to $630.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. The Goldman Sachs Group lifted their price objective on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup lowered their price objective on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $617.33.

Martin Marietta Materials Price Performance

Shares of MLM opened at $537.83 on Thursday. The company has a market cap of $33.15 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 3.01 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67. The company’s fifty day simple moving average is $556.37 and its 200 day simple moving average is $563.79. 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 released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 7.6% on a year-over-year basis. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a $0.74 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.96 annualized dividend and a dividend yield of 0.55%. Martin Marietta Materials’s dividend 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.