Martin Marietta Materials, Inc. $MLM Stake Cut by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in Martin Marietta Materials by 34.6% in the first quarter, selling 1,984 shares and leaving it with 3,747 shares valued at about $2.21 million.
• Martin Marietta reported better-than-expected quarterly results, with EPS of $1.93 versus $1.78 expected and revenue of $1.36 billion, up 17.2% year over year.
• The company also paid a quarterly dividend of $0.83 per share, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $681.53.

Kestra Advisory Services LLC lessened its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 34.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,747 shares of the construction company's stock after selling 1,984 shares during the quarter. Kestra Advisory Services LLC's holdings in Martin Marietta Materials were worth $2,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MLM. Northwestern Mutual Wealth Management Co. lifted its position in Martin Marietta Materials by 14,332.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the construction company's stock worth $48,438,000 after buying an additional 77,253 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Martin Marietta Materials by 9.7% during the 4th quarter. Gradient Investments LLC now owns 44,209 shares of the construction company's stock valued at $27,527,000 after acquiring an additional 3,903 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Martin Marietta Materials by 66.7% in the fourth quarter. SG Americas Securities LLC now owns 9,316 shares of the construction company's stock worth $5,801,000 after acquiring an additional 3,728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Martin Marietta Materials by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,753 shares of the construction company's stock worth $7,318,000 after acquiring an additional 1,778 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Martin Marietta Materials in the third quarter worth $3,646,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $563.57 on Monday. The stock has a market capitalization of $33.84 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.39 and a beta of 1.10. The business has a 50-day moving average of $578.36 and a two-hundred day moving average of $612.74. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials's dividend payout ratio (DPR) is 7.91%.

Wall Street Analyst Weigh In

MLM has been the topic of several research reports. Morgan Stanley dropped their target price on Martin Marietta Materials from $702.00 to $664.00 and set an "overweight" rating on the stock in a research report on Monday, April 6th. Wall Street Zen raised Martin Marietta Materials from a "sell" rating to a "hold" rating in a research note on Monday. Raymond James Financial dropped their price objective on Martin Marietta Materials from $690.00 to $675.00 and set an "outperform" rating on the stock in a report on Wednesday. Oppenheimer began coverage on shares of Martin Marietta Materials in a research report on Thursday, May 28th. They set a "market perform" rating on the stock. Finally, Weiss Ratings upgraded shares of Martin Marietta Materials from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Martin Marietta Materials presently has an average rating of "Moderate Buy" and a consensus target price of $681.53.

Martin Marietta Materials Profile

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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