Redmont Wealth Advisors LLC Invests $31,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 50 shares of the construction company’s stock, valued at approximately $31,000.

Several other institutional investors have also recently made changes to their positions in MLM. Vanguard Group Inc. increased its holdings in Martin Marietta Materials by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock worth $3,577,268,000 after acquiring an additional 69,701 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Martin Marietta Materials by 9.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock worth $838,421,000 after acquiring an additional 181,136 shares in the last quarter. Norges Bank purchased a new stake in Martin Marietta Materials in the 4th quarter worth approximately $308,705,000. Dimensional Fund Advisors LP increased its holdings in Martin Marietta Materials by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 615,396 shares of the construction company’s stock worth $307,026,000 after acquiring an additional 27,775 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Martin Marietta Materials by 0.8% during the 4th quarter. DAVENPORT & Co LLC now owns 423,953 shares of the construction company’s stock valued at $211,103,000 after buying an additional 3,292 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

MLM has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Truist Financial increased 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. Wolfe Research lowered shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Finally, The Goldman Sachs Group increased 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. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.25.

Martin Marietta Materials Trading Down 0.3 %

MLM stock opened at $533.27 on Thursday. The firm has a market cap of $32.87 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The firm has a fifty day moving average price of $570.77 and a 200 day moving average price of $557.62. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16.

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, topping analysts’ consensus estimates of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. Martin Marietta Materials’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a yield of 0.56%. Martin Marietta Materials’s dividend payout ratio is presently 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.