Axxcess Wealth Management LLC Increases Holdings in Martin Marietta Materials, Inc. $MLM

Key Points

• Axxcess Wealth Management boosted its stake in Martin Marietta Materials by 266.9% in the fourth quarter, adding 2,866 shares to bring its total to 3,940 shares worth about $2.45 million.
• Martin Marietta Materials reported better-than-expected quarterly results, posting EPS of $1.93 versus the $1.78 estimate and revenue of $1.36 billion, up 17.2% year over year.
• The company announced a quarterly dividend of $0.83 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $689.81.

Axxcess Wealth Management LLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 266.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,940 shares of the construction company's stock after acquiring an additional 2,866 shares during the quarter. Axxcess Wealth Management LLC's holdings in Martin Marietta Materials were worth $2,453,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Bank of America Corp DE raised its position in shares of Martin Marietta Materials by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company's stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Martin Marietta Materials by 9.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company's stock worth $1,389,428,000 after purchasing an additional 192,637 shares during the last quarter. Millennium Management LLC raised its position in shares of Martin Marietta Materials by 1,570.3% during the 3rd quarter. Millennium Management LLC now owns 108,167 shares of the construction company's stock worth $68,175,000 after purchasing an additional 115,524 shares during the last quarter. Freestone Grove Partners LP raised its position in shares of Martin Marietta Materials by 748.5% during the 3rd quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company's stock worth $78,762,000 after purchasing an additional 110,236 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Martin Marietta Materials by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company's stock worth $4,691,139,000 after purchasing an additional 93,595 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Trading Up 0.1%

Shares of MLM opened at $537.00 on Monday. The stock has a fifty day moving average of $592.46 and a two-hundred day moving average of $622.82. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a market capitalization of $32.25 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.Martin Marietta Materials's revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 EPS. As a group, analysts forecast that Martin Marietta Materials, Inc. will post 19.32 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 1st. Martin Marietta Materials's dividend payout ratio (DPR) is 7.91%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Martin Marietta Materials from $608.00 to $614.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Royal Bank Of Canada cut their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a "sector perform" rating for the company in a research report on Monday, May 4th. Citigroup cut their price objective on Martin Marietta Materials from $804.00 to $731.00 and set a "buy" rating for the company in a research report on Monday, May 4th. Barclays cut their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, March 31st. Finally, Wall Street Zen upgraded Martin Marietta Materials from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and a consensus target price of $689.81.

About Martin Marietta Materials

Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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