SteelPeak Wealth LLC Makes New $1.65 Million Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

SteelPeak Wealth LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,691 shares of the construction company’s stock, valued at approximately $1,652,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schear Investment Advisers LLC lifted its position in shares of Martin Marietta Materials by 1.2% during the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Martin Marietta Materials by 1.8% in the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares during the period. Global Retirement Partners LLC raised its position in shares of Martin Marietta Materials by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock worth $228,000 after purchasing an additional 22 shares during the last quarter. Independence Bank of Kentucky increased its stake in Martin Marietta Materials by 16.9% during the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after buying an additional 22 shares in the last quarter. Finally, Spreng Capital Management Inc. raised its holdings in shares of Martin Marietta Materials by 3.1% during the fourth quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after acquiring an additional 23 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Price Performance

MLM stock opened at $541.80 on Monday. The business has a fifty day moving average of $574.19 and a two-hundred day moving average of $557.20. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The stock has a market cap of $33.40 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52-week low of $389.90 and a 52-week high of $626.67.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The company’s revenue was down 7.6% on a year-over-year basis. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. Martin Marietta Materials’s payout ratio is presently 8.77%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Citigroup increased their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $610.27.

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.