Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Exencial Wealth Advisors LLC

Key Points

• Exencial Wealth Advisors LLC significantly increased its stake in Martin Marietta Materials by acquiring an additional 19,530 shares, raising its holdings by 4,077.2% to a total of 20,009 shares, valued at approximately $9.57 million.
• Several large investors, including Vanguard Group and Bluegrass Capital Partners, have also boosted their positions in Martin Marietta Materials, reflecting strong institutional interest with over 95% of shares currently held by institutional investors.
• Analysts have expressed positive sentiments toward the stock, with UBS upgrading its rating to "buy" and raising the price target to $634.00, while the average rating stands at "Moderate Buy" with a target of $608.40.

Exencial Wealth Advisors LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 4,077.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,009 shares of the construction company's stock after buying an additional 19,530 shares during the period. Exencial Wealth Advisors LLC's holdings in Martin Marietta Materials were worth $9,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $29,000. Chilton Capital Management LLC acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $30,000. IMA Advisory Services Inc. acquired a new stake in Martin Marietta Materials during the 1st quarter worth about $40,000. Valley National Advisers Inc. lifted its position in Martin Marietta Materials by 193.9% during the 1st quarter. Valley National Advisers Inc. now owns 97 shares of the construction company's stock worth $45,000 after acquiring an additional 64 shares during the period. Finally, Bellwether Advisors LLC acquired a new stake in Martin Marietta Materials during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $11.79 on Friday, hitting $612.09. The company's stock had a trading volume of 526,226 shares, compared to its average volume of 413,897. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 2.35. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The firm has a fifty day moving average price of $561.39 and a 200-day moving average price of $528.57. The company has a market capitalization of $36.90 billion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 5.49 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $5.43 earnings per share for the quarter, missing the consensus estimate of $5.44 by ($0.01). Martin Marietta Materials had a net margin of 16.47% and a return on equity of 11.88%. The business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $4.76 EPS. Martin Marietta Materials's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 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 Monday, June 30th. Stockholders of record on Monday, June 2nd were given a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is 18.20%.

Wall Street Analyst Weigh In

MLM has been the subject of a number of research reports. Raymond James Financial lifted their price target on Martin Marietta Materials from $600.00 to $645.00 and gave the stock an "outperform" rating in a research report on Friday. Bank of America lifted their price objective on Martin Marietta Materials from $577.00 to $643.00 and gave the company a "neutral" rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Royal Bank Of Canada lifted their price objective on Martin Marietta Materials from $515.00 to $525.00 and gave the company a "sector perform" rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $615.60.

About Martin Marietta Materials

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.