Wealth Enhancement Advisory Services LLC Has $2.47 Million Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Wealth Enhancement Advisory Services LLC raised its position in Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 41.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,159 shares of the construction company's stock after acquiring an additional 1,505 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Martin Marietta Materials were worth $2,467,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Martin Marietta Materials by 58,570.5% in the 1st quarter. GAMMA Investing LLC now owns 697,592 shares of the construction company's stock valued at $333,540,000 after purchasing an additional 696,403 shares during the period. Norges Bank acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $306,863,000. Raymond James Financial Inc. acquired a new stake in shares of Martin Marietta Materials in the fourth quarter valued at approximately $196,374,000. Alkeon Capital Management LLC boosted its stake in shares of Martin Marietta Materials by 46.6% during the 4th quarter. Alkeon Capital Management LLC now owns 771,198 shares of the construction company's stock worth $398,324,000 after acquiring an additional 245,000 shares during the period. Finally, Amundi increased its holdings in shares of Martin Marietta Materials by 10.5% during the 4th quarter. Amundi now owns 1,562,146 shares of the construction company's stock worth $808,005,000 after acquiring an additional 148,065 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James Financial cut their price target on Martin Marietta Materials from $600.00 to $597.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Royal Bank Of Canada initiated 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 objective on the stock. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Seaport Res Ptn raised shares of Martin Marietta Materials to a "strong-buy" rating in a report on Friday, March 21st. Finally, Morgan Stanley upped their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $603.86.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM traded down $0.51 during midday trading on Wednesday, hitting $557.17. The stock had a trading volume of 171,876 shares, compared to its average volume of 482,985. The company's 50-day moving average price is $543.57 and its 200-day moving average price is $519.63. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. 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 capitalization of $33.59 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 4.98 and a beta of 0.87.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.93 EPS. As a group, equities research analysts predict that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal 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 issued a dividend of $0.79 per share. The ex-dividend date was Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is presently 18.20%.

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.