Wealthspire Advisors LLC Acquires 36 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Wealthspire Advisors LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 3.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,088 shares of the construction company’s stock after purchasing an additional 36 shares during the period. Wealthspire Advisors LLC’s holdings in Martin Marietta Materials were worth $589,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Global Assets Advisory LLC bought a new stake in Martin Marietta Materials during the 1st quarter valued at about $22,265,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Martin Marietta Materials by 25.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,562 shares of the construction company’s stock valued at $4,272,000 after buying an additional 1,728 shares during the last quarter. Brevan Howard Capital Management LP increased its position in shares of Martin Marietta Materials by 49.7% during the fourth quarter. Brevan Howard Capital Management LP now owns 5,672 shares of the construction company’s stock valued at $2,830,000 after acquiring an additional 1,882 shares in the last quarter. Vanguard Group Inc. raised 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 during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Martin Marietta Materials by 182.5% in the 1st quarter. BNP Paribas Financial Markets now owns 73,135 shares of the construction company’s stock valued at $44,901,000 after acquiring an additional 47,250 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

NYSE MLM opened at $529.78 on Tuesday. The business’s fifty day moving average is $541.32 and its 200 day moving average is $568.37. 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 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The company has a market capitalization of $32.66 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 3.52 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.60 earnings per share. Sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.33 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.60%. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MLM shares. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Jefferies Financial Group raised their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup decreased their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a report on Monday, August 12th. Loop Capital dropped their target price on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Stifel Nicolaus cut their target price on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

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.