SOA Wealth Advisors LLC. Takes $3.35 Million Position in Martin Marietta Materials, Inc. (NYSE:MLM)

SOA Wealth Advisors LLC. bought a new stake in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,001 shares of the construction company's stock, valued at approximately $3,347,000.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MLM. UBS Group upgraded shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price target for the company from $548.00 to $634.00 in a research note on Friday, May 16th. Raymond James decreased their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Stephens decreased their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Truist Financial reduced their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $640.00 to $560.00 in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $610.69.

Martin Marietta Materials Price Performance

MLM stock opened at $551.29 on Friday. The company has a fifty day moving average price of $521.85 and a 200-day moving average price of $524.42. The company has a market capitalization of $33.23 billion, a P/E ratio of 17.05, a PEG ratio of 4.45 and a beta of 0.89. Martin Marietta Materials, Inc. has a 52-week low of $441.95 and a 52-week high of $633.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last released its quarterly 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. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. As a group, equities analysts expect that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

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 paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is presently 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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