Allworth Financial LP Raises Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Allworth Financial LP lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 45.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,165 shares of the construction company’s stock after buying an additional 366 shares during the period. Allworth Financial LP’s holdings in Martin Marietta Materials were worth $641,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MLM. Strategic Financial Concepts LLC purchased a new position in Martin Marietta Materials in the fourth quarter valued at about $51,015,000. Principal Securities Inc. grew its stake in Martin Marietta Materials by 3.7% in the 4th quarter. Principal Securities Inc. now owns 2,137 shares of the construction company’s stock worth $1,104,000 after acquiring an additional 77 shares during the period. Little House Capital LLC acquired a new position in shares of Martin Marietta Materials in the 4th quarter valued at $643,000. Congress Asset Management Co. boosted its holdings in shares of Martin Marietta Materials by 0.4% in the 4th quarter. Congress Asset Management Co. now owns 254,116 shares of the construction company’s stock valued at $131,251,000 after purchasing an additional 938 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of Martin Marietta Materials during the 4th quarter valued at $726,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Barclays lowered their price objective on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Stephens lowered their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. UBS Group initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They set a “buy” rating and a $730.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $505.47 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The firm has a market capitalization of $30.89 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 4.69 and a beta of 0.91. The company’s fifty day moving average is $531.34 and its two-hundred day moving average is $547.49. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23.

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

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.63%. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 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.