Sequoia Financial Advisors LLC Boosts Stock Position in Martin Marietta Materials, Inc. $MLM

Key Points

• Sequoia Financial Advisors increased its Martin Marietta Materials position by 19% in the second quarter, bringing its holdings to 12,292 shares valued at approximately $7.09 million. Institutional investors collectively own 95.04% of the company.
• Analysts maintain a “Moderate Buy” consensus on MLM, with a consensus price target of $667.53; ratings include 12 Buys, seven Holds, and one Sell.
• Martin Marietta exceeded quarterly earnings and revenue estimates, reporting $5.00 in EPS and $1.95 billion in revenue, while revenue grew 21% year over year. The company also raised its quarterly dividend to $0.84 per share, or $3.36 annually.

Sequoia Financial Advisors LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 19.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,292 shares of the construction company's stock after purchasing an additional 1,966 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Martin Marietta Materials were worth $7,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in MLM. Integrated Wealth Concepts LLC grew its holdings in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company's stock valued at $379,000 after buying an additional 49 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company's stock worth $673,000 after buying an additional 144 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company's stock worth $280,000 after acquiring an additional 51 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company's stock valued at $143,000 after buying an additional 175 shares during the period. Finally, Cresset Asset Management LLC raised its stake in shares of Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company's stock valued at $427,000 after acquiring an additional 143 shares during the period. Institutional investors own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Berenberg Bank set a $556.00 price target on Martin Marietta Materials and gave the stock a "hold" rating in a research note on Tuesday, June 2nd. Raymond James Financial set a $660.00 price target on shares of Martin Marietta Materials in a research report on Friday, July 31st. Royal Bank Of Canada raised their price objective on Martin Marietta Materials from $610.00 to $620.00 and gave the company a "sector perform" rating in a research report on Friday, August 28th. Stephens cut their price target on shares of Martin Marietta Materials from $700.00 to $680.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings lowered Martin Marietta Materials from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 3rd. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $667.53.

Martin Marietta Materials Stock Performance

NYSE MLM opened at $510.46 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $491.61 and a fifty-two week high of $710.97. The firm has a market capitalization of $30.66 billion, a P/E ratio of 12.54, a PEG ratio of 2.17 and a beta of 1.10. The stock has a 50-day simple moving average of $544.86 and a two-hundred day simple moving average of $579.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.41.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm posted $5.43 EPS. The business's quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from Martin Marietta Materials's previous quarterly dividend of $0.83. Martin Marietta Materials's payout ratio is currently 8.26%.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a U.S.-based supplier of construction aggregates and other building materials. The company produces crushed stone, sand and gravel used in infrastructure, commercial, residential and industrial construction projects.

Its products and services also include cement, ready-mixed concrete, asphalt and paving materials. Martin Marietta serves customers involved in roads, bridges, airports, buildings and other essential infrastructure, with operations concentrated across several regions of the United States.

The company was established in 1993 as an independent, publicly traded materials business formed from the construction materials operations of Martin Marietta Corporation.

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