SOA Wealth Advisors LLC. Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

SOA Wealth Advisors LLC. bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,001 shares of the construction company's stock, valued at approximately $3,347,000.

Other large investors also recently modified their holdings of the company. Wedmont Private Capital increased its stake in Martin Marietta Materials by 14.6% during the 1st quarter. Wedmont Private Capital now owns 612 shares of the construction company's stock worth $301,000 after purchasing an additional 78 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Martin Marietta Materials in the 1st quarter valued at $219,000. Gateway Investment Advisers LLC boosted its stake in Martin Marietta Materials by 2.1% in the 1st quarter. Gateway Investment Advisers LLC now owns 54,549 shares of the construction company's stock worth $26,082,000 after purchasing an additional 1,115 shares during the period. Independence Bank of Kentucky boosted its stake in Martin Marietta Materials by 37.5% in the 1st quarter. Independence Bank of Kentucky now owns 792 shares of the construction company's stock worth $379,000 after purchasing an additional 216 shares during the period. Finally, Procyon Advisors LLC increased its holdings in Martin Marietta Materials by 9.6% during the 1st quarter. Procyon Advisors LLC now owns 3,654 shares of the construction company's stock worth $1,747,000 after purchasing an additional 319 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Martin Marietta Materials Stock Performance

MLM traded down $8.38 during trading hours on Wednesday, reaching $545.95. The company's stock had a trading volume of 442,928 shares, compared to its average volume of 487,111. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The company's 50-day moving average is $524.49 and its 200-day moving average is $523.44. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23. The firm has a market cap of $32.91 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Martin Marietta Materials's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is 18.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MLM. JPMorgan Chase & Co. lowered Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price target for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Barclays decreased their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price objective on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Loop Capital decreased their target price on shares of 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. Finally, Morgan Stanley raised their price objective on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials Company 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.