Baker Tilly Wealth Management LLC Increases Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Baker Tilly Wealth Management LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 859 shares of the construction company’s stock after acquiring an additional 146 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Martin Marietta Materials were worth $444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Newbridge Financial Services Group Inc. grew its position in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after buying an additional 52 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $33,000. Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials during the third quarter valued at approximately $49,000. Finally, Tobam lifted its position in Martin Marietta Materials by 38.8% in the 3rd quarter. Tobam now owns 93 shares of the construction company’s stock valued at $50,000 after acquiring an additional 26 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MLM. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday. BNP Paribas downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price objective for the company in a report on Wednesday, December 11th. Finally, Citigroup dropped their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $643.36.

Martin Marietta Materials Trading Down 1.7 %

Martin Marietta Materials stock opened at $508.54 on Friday. Martin Marietta Materials, Inc. has a 12-month low of $489.90 and a 12-month high of $633.23. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 3.74 and a beta of 0.91. The firm has a 50 day moving average of $563.58 and a 200 day moving average of $551.17. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the company earned $6.94 earnings per share. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 17.58 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.62%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

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.