Martin Marietta Materials, Inc. (NYSE:MLM) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 18.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,722 shares of the construction company’s stock after acquiring an additional 881 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Martin Marietta Materials were worth $3,513,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials during the 4th quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Martin Marietta Materials in the fourth quarter valued at about $26,000. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials during the first quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new position in shares of Martin Marietta Materials during the fourth quarter worth about $27,000. Finally, Benjamin Edwards Inc. increased its position in Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Up 0.5 %

Martin Marietta Materials stock opened at $534.69 on Wednesday. Martin Marietta Materials, Inc. has a fifty-two week low of $389.90 and a fifty-two week high of $626.67. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.40 and a beta of 0.91. The stock’s fifty day moving average is $571.94 and its two-hundred day moving average is $557.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted $2.16 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Analysts predict that Martin Marietta Materials, Inc. will post 23.1 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MLM shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research note on Friday, March 22nd. Stifel Nicolaus upped their price objective on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Wolfe Research downgraded shares of Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. The Goldman Sachs Group increased their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, StockNews.com lowered Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and an average target price of $610.27.

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.