Turtle Creek Wealth Advisors LLC Invests $4.31 Million in Martin Marietta Materials, Inc. (NYSE:MLM)

Turtle Creek Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,013 shares of the construction company's stock, valued at approximately $4,309,000.

Several other institutional investors have also recently added to or reduced their stakes in MLM. Proficio Capital Partners LLC lifted its position in shares of Martin Marietta Materials by 5.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,778 shares of the construction company's stock worth $918,000 after buying an additional 89 shares during the last quarter. Independent Advisor Alliance purchased a new stake in shares of Martin Marietta Materials in the 4th quarter valued at about $394,000. EverSource Wealth Advisors LLC lifted its stake in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company's stock valued at $37,000 after buying an additional 34 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Martin Marietta Materials by 13.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,319 shares of the construction company's stock valued at $681,000 after buying an additional 155 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Martin Marietta Materials by 6.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,123 shares of the construction company's stock valued at $6,827,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Martin Marietta Materials stock traded up $3.42 during mid-day trading on Thursday, hitting $549.78. 57,764 shares of the company were exchanged, compared to its average volume of 475,090. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 0.99. The business's 50 day simple moving average is $552.02 and its two-hundred day simple moving average is $521.53. The company has a market capitalization of $33.14 billion, a P/E ratio of 31.67, a PEG 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.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.02. The firm 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%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 EPS. Analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada began coverage on shares of Martin Marietta Materials in a research report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price target for the company. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. cut Martin Marietta Materials from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $640.00 to $560.00 in a research note on Wednesday, March 19th. Morgan Stanley upped their price target 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, Stifel Nicolaus upped 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. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Martin Marietta Materials has a consensus rating of "Moderate Buy" and an average target price of $603.86.

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.