Martin Marietta Materials, Inc. (NYSE:MLM) Shares Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its holdings in Martin Marietta Materials by 27.8% in Q1, now owning 9,623 shares worth approximately $4.6 million.
• Wall Street analysts have varying opinions on Martin Marietta Materials, with one downgrade to "sell" and multiple ratings of "buy," affecting the consensus rating as "Moderate Buy" with an average target price of $603.86.
• The company reported a quarterly earnings per share of $1.90, exceeding analysts' expectations, with a net margin of 16.07% and an annualized dividend yield of 0.54% announced for its shareholders.

HB Wealth Management LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 27.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,623 shares of the construction company's stock after purchasing an additional 2,092 shares during the period. HB Wealth Management LLC's holdings in Martin Marietta Materials were worth $4,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MLM. Wayfinding Financial LLC bought a new stake in shares of Martin Marietta Materials during the first quarter valued at approximately $29,000. Chilton Capital Management LLC purchased a new position in shares of Martin Marietta Materials during the 1st quarter valued at $30,000. IMA Advisory Services Inc. bought a new stake in Martin Marietta Materials in the 1st quarter valued at $40,000. Bellwether Advisors LLC bought a new stake in Martin Marietta Materials in the 4th quarter valued at $46,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Martin Marietta Materials in the 4th quarter valued at $47,000. Institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

NYSE MLM traded down $3.36 during trading hours on Thursday, reaching $571.96. The company's stock had a trading volume of 233,565 shares, compared to its average volume of 478,817. The stock has a market cap of $34.48 billion, a PE ratio of 32.92, a PEG ratio of 5.31 and a beta of 0.87. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The company's 50-day moving average is $555.93 and its two-hundred day moving average is $525.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The company's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.55%. Martin Marietta Materials's payout ratio is 18.20%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLM. Raymond James Financial cut their price target on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Royal Bank Of Canada started coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They set a "sector perform" rating and a $515.00 target price for the company. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Finally, Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of "Moderate Buy" and an average price target of $605.93.

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.