Mission Wealth Management LP Purchases New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Mission Wealth Management LP purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,058 shares of the construction company's stock, valued at approximately $506,000.

Other large investors have also made changes to their positions in the company. Sunbeam Capital Management LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $235,000. Waverly Advisors LLC grew its stake in shares of Martin Marietta Materials by 78.9% in the 4th quarter. Waverly Advisors LLC now owns 1,041 shares of the construction company's stock valued at $538,000 after buying an additional 459 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Martin Marietta Materials by 64.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,028 shares of the construction company's stock worth $1,047,000 after purchasing an additional 796 shares during the period. Fifth Third Bancorp boosted its position in Martin Marietta Materials by 5.0% during the first quarter. Fifth Third Bancorp now owns 7,357 shares of the construction company's stock worth $3,518,000 after purchasing an additional 352 shares during the period. Finally, Captrust Financial Advisors boosted its position in Martin Marietta Materials by 4.4% during the fourth quarter. Captrust Financial Advisors now owns 31,092 shares of the construction company's stock worth $16,059,000 after purchasing an additional 1,315 shares during the period. Institutional investors own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MLM. Wall Street Zen cut Martin Marietta Materials from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Loop Capital decreased their target price on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. cut 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. Stifel Nicolaus upped their target price on Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $603.86.

Martin Marietta Materials Stock Down 0.5%

Shares of MLM stock opened at $538.46 on Thursday. The stock has a market cap of $32.46 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 4.91 and a beta of 0.89. Martin Marietta Materials, Inc. has a one year low of $441.95 and a one year high of $633.23. The stock has a fifty day moving average price of $533.79 and a 200 day moving average price of $521.70. 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 issued its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.01% and a net margin of 16.07%. Martin Marietta Materials's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.93 earnings per share. Analysts predict that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 annualized dividend and a yield of 0.59%. 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.

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