Spire Wealth Management Has $598,000 Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Spire Wealth Management grew its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,250 shares of the construction company's stock after acquiring an additional 488 shares during the quarter. Spire Wealth Management's holdings in Martin Marietta Materials were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MLM. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $32,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials in the 4th quarter valued at about $36,000. EverSource Wealth Advisors LLC lifted its position in Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after acquiring an additional 34 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new position in Martin Marietta Materials during the 4th quarter valued at about $46,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 1.8%

Shares of MLM opened at $550.34 on Friday. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The business has a 50-day moving average of $540.97 and a 200 day moving average of $519.64. The firm has a market cap of $33.17 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 4.99 and a beta of 0.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.99 and a current ratio of 2.25.

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 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 the consensus estimate of $1.36 billion. Martin Marietta Materials had a net margin of 16.07% and a return on equity of 12.01%. The company's revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.93 earnings per share. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.57%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials's payout ratio is currently 18.20%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Loop Capital reduced 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 note on Tuesday, April 1st. UBS Group raised shares of Martin Marietta Materials from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $640.00 to $560.00 in a research note on Wednesday, March 19th. Morgan Stanley boosted their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research report on Friday, March 21st. One 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $603.86.

About Martin Marietta Materials

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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