Fiduciary Alliance LLC Purchases New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Fiduciary Alliance LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 662 shares of the construction company's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Martin Marietta Materials by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,174,183 shares of the construction company's stock worth $3,705,466,000 after acquiring an additional 36,531 shares during the period. JPMorgan Chase & Co. raised its stake in Martin Marietta Materials by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company's stock worth $1,441,663,000 after acquiring an additional 506,705 shares during the period. Principal Financial Group Inc. raised its stake in Martin Marietta Materials by 11.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,819,744 shares of the construction company's stock worth $939,898,000 after acquiring an additional 191,043 shares during the period. Amundi raised its stake in Martin Marietta Materials by 10.5% during the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after acquiring an additional 148,065 shares during the period. Finally, Geode Capital Management LLC raised its stake in Martin Marietta Materials by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,472,411 shares of the construction company's stock worth $758,499,000 after acquiring an additional 32,082 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MLM. Stephens dropped their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Barclays decreased their target price 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. Stifel Nicolaus upped their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Truist Financial decreased their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $610.69.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock traded up $1.25 on Friday, hitting $551.29. The company had a trading volume of 274,760 shares, compared to its average volume of 488,213. The business has a 50-day simple moving average of $521.85 and a 200-day simple moving average of $524.42. 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 company has a market cap of $33.23 billion, a PE ratio of 17.05, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $1.93 earnings per share. Research analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's payout ratio is 18.20%.

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.