Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,128 shares of the construction company’s stock after buying an additional 179 shares during the quarter. Wealthspire Advisors LLC’s holdings in Martin Marietta Materials were worth $583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at $33,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials in the fourth quarter valued at $35,000. R Squared Ltd purchased a new stake in Martin Marietta Materials in the fourth quarter valued at $41,000. Retirement Wealth Solutions LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $41,000. Finally, Larson Financial Group LLC purchased a new position in shares of Martin Marietta Materials during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MLM. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Stephens decreased their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Hsbc Global Res upgraded shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Raymond James cut their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $489.72 on Wednesday. The stock has a market capitalization of $29.93 billion, a P/E ratio of 15.15, a PEG ratio of 4.45 and a beta of 0.91. The business has a 50 day simple moving average of $528.99 and a two-hundred day simple moving average of $546.80. Martin Marietta Materials, Inc. has a 12 month low of $482.72 and a 12 month high of $633.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a return on equity of 12.11% and a net margin of 30.54%. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a yield of 0.65%. Martin Marietta Materials’s payout ratio is presently 9.77%.

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.