Spire Wealth Management Acquires 488 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Spire Wealth Management boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 64.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,250 shares of the construction company's stock after purchasing 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 have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in Martin Marietta Materials by 58,570.5% during the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock worth $333,540,000 after purchasing an additional 696,403 shares during the period. Norges Bank purchased a new position in Martin Marietta Materials during the fourth quarter worth about $306,863,000. Raymond James Financial Inc. purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $196,374,000. Alkeon Capital Management LLC increased its stake in Martin Marietta Materials by 46.6% during the fourth quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after purchasing an additional 245,000 shares during the period. Finally, Amundi boosted its holdings in Martin Marietta Materials by 10.5% in the fourth quarter. Amundi now owns 1,562,146 shares of the construction company's stock valued at $808,005,000 after purchasing an additional 148,065 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Stock Down 0.2%

Shares of MLM traded down $1.07 during midday trading on Wednesday, reaching $556.62. 190,652 shares of the stock were exchanged, compared to its average volume of 483,039. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.58. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 4.98 and a beta of 0.87. Martin Marietta Materials, Inc. has a 12-month low of $441.95 and a 12-month high of $633.23. The firm has a 50 day simple moving average of $543.57 and a 200-day simple moving average of $519.63.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 12.01% and a net margin of 16.07%. Martin Marietta Materials's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 earnings per share. Research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, June 2nd. Martin Marietta Materials's dividend payout ratio is 18.20%.

Analyst Upgrades and Downgrades

MLM has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Martin Marietta Materials from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Morgan Stanley upped their price target on shares of Martin Marietta Materials from $561.00 to $576.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $548.00 to $634.00 in a research report on Friday, May 16th. Seaport Res Ptn upgraded Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, Wall Street Zen downgraded shares of Martin Marietta Materials from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $603.86.

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.