Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM - Free Report) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,159 shares of the construction company's stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Griffin Asset Management Inc. boosted its stake in Martin Marietta Materials by 2.5% in the first quarter. Griffin Asset Management Inc. now owns 2,216 shares of the construction company's stock worth $1,060,000 after buying an additional 55 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in Martin Marietta Materials in the first quarter worth approximately $3,787,000. New England Research & Management Inc. boosted its stake in Martin Marietta Materials by 3.1% in the first quarter. New England Research & Management Inc. now owns 2,355 shares of the construction company's stock worth $1,126,000 after buying an additional 70 shares in the last quarter. RMR Wealth Builders boosted its stake in Martin Marietta Materials by 40.4% in the first quarter. RMR Wealth Builders now owns 3,358 shares of the construction company's stock worth $1,605,000 after buying an additional 967 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its stake in Martin Marietta Materials by 1.5% in the first quarter. NorthCrest Asset Manangement LLC now owns 28,995 shares of the construction company's stock worth $13,863,000 after buying an additional 436 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $550.34 on Friday. 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 $33.17 billion, a PE ratio of 31.70, a P/E/G ratio of 4.99 and a beta of 0.89. The business has a 50 day moving average of $540.97 and a 200 day moving average of $519.64. Martin Marietta Materials, Inc. has a 52 week low of $441.95 and a 52 week high of $633.23.

Martin Marietta Materials (NYSE:MLM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.02. The company 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%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials's dividend payout ratio (DPR) is 18.20%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MLM. Seaport Res Ptn raised Martin Marietta Materials to a "strong-buy" rating in a research note on Friday, March 21st. Loop Capital lowered their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. UBS Group upgraded Martin Marietta Materials from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $548.00 to $634.00 in a research report on Friday, May 16th. Royal Bank Of Canada began coverage on Martin Marietta Materials in a research report on Monday, June 16th. They issued a "sector perform" rating and a $515.00 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on Martin Marietta Materials from $559.00 to $609.00 and gave the company 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 issued a strong buy rating to the company. Based on data from MarketBeat, Martin Marietta Materials has an average rating of "Moderate Buy" and an average target price 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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