LPL Financial LLC Has $19.86 Million Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

LPL Financial LLC boosted its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,534 shares of the construction company's stock after purchasing an additional 2,932 shares during the period. LPL Financial LLC owned about 0.07% of Martin Marietta Materials worth $19,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Wayfinding Financial LLC purchased a new stake in Martin Marietta Materials during the first quarter worth $29,000. Chilton Capital Management LLC acquired a new position in shares of Martin Marietta Materials during the 1st quarter worth approximately $30,000. IMA Advisory Services Inc. purchased a new position in shares of Martin Marietta Materials during the 1st quarter worth $40,000. Bellwether Advisors LLC acquired a new position in Martin Marietta Materials in the fourth quarter valued at $46,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Martin Marietta Materials during the fourth quarter worth about $47,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Martin Marietta Materials in a research note on Monday, June 16th. They set a "sector perform" rating and a $515.00 price objective for the company. Stifel Nicolaus lifted their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Wall Street Zen lowered Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Stephens reaffirmed an "overweight" rating and issued a $700.00 price objective on shares of Martin Marietta Materials in a research note on Monday. Finally, Morgan Stanley increased their price objective on shares of Martin Marietta Materials from $576.00 to $605.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $611.73.

Martin Marietta Materials Stock Performance

Martin Marietta Materials stock traded down $8.05 during midday trading on Wednesday, reaching $599.45. 618,391 shares of the stock traded hands, compared to its average volume of 483,453. The firm has a fifty day moving average price of $558.08 and a two-hundred day moving average price of $527.27. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 5.52 and a beta of 0.89. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $0.79 dividend. The ex-dividend date was Monday, June 2nd. This represents a $3.16 annualized dividend and a dividend yield of 0.5%. Martin Marietta Materials's dividend payout ratio is 18.20%.

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.