Prevail Innovative Wealth Advisors LLC Increases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Prevail Innovative Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 79.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,818 shares of the construction company's stock after purchasing an additional 5,229 shares during the quarter. Martin Marietta Materials comprises approximately 1.5% of Prevail Innovative Wealth Advisors LLC's investment portfolio, making the stock its 16th biggest position. Prevail Innovative Wealth Advisors LLC's holdings in Martin Marietta Materials were worth $5,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. bought a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $28,000. Wayfinding Financial LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth about $29,000. Chilton Capital Management LLC bought a new position in shares of Martin Marietta Materials in the first quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock worth $37,000 after acquiring an additional 34 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in shares of Martin Marietta Materials by 193.9% in the first 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 last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MLM shares. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen cut shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. JPMorgan Chase & Co. downgraded Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. UBS Group raised Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Finally, Loop Capital lowered their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $603.86.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded down $5.53 during trading hours on Wednesday, hitting $542.90. 251,527 shares of the company's stock traded hands, compared to its average volume of 475,743. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The stock has a market capitalization of $32.73 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 5.13 and a beta of 0.87. The company has a fifty day simple moving average of $551.79 and a 200-day simple moving average of $521.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99.

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

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio (DPR) is currently 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.