Fenimore Asset Management Inc Buys 525 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Fenimore Asset Management Inc grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 79,907 shares of the construction company’s stock after acquiring an additional 525 shares during the period. Fenimore Asset Management Inc’s holdings in Martin Marietta Materials were worth $41,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MLM. Newbridge Financial Services Group Inc. boosted its stake in Martin Marietta Materials by 411.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the period. Asset Dedication LLC lifted its holdings in shares of Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials during the third quarter worth $33,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $41,000. Finally, Larson Financial Group LLC acquired a new position in shares of Martin Marietta Materials in the third quarter valued at about $49,000. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MLM shares. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Citigroup cut their price target on Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group lowered their price objective on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. UBS Group started coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Finally, StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price of $648.71.

Martin Marietta Materials Price Performance

MLM stock opened at $548.40 on Friday. The stock has a market cap of $33.52 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 3.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. The company has a 50 day simple moving average of $550.81 and a 200 day simple moving average of $551.37. Martin Marietta Materials, Inc. has a 1 year low of $490.05 and a 1 year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $6.94 earnings per share. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Research analysts anticipate that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.