Accel Wealth Management Makes New $266,000 Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

Accel Wealth Management acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 434 shares of the construction company’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Schear Investment Advisers LLC increased its stake in shares of Martin Marietta Materials by 1.2% in the fourth 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 increased its stake 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 buying an additional 21 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Martin Marietta Materials by 16.9% in the fourth quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after buying an additional 22 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Martin Marietta Materials by 5.0% in the fourth quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after acquiring an additional 22 shares during the last quarter. Finally, Spreng Capital Management Inc. boosted its holdings in Martin Marietta Materials by 3.1% in 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLM has been the topic of several recent research reports. StockNews.com cut Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. The Goldman Sachs Group raised their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price target (up previously from $530.00) on shares of Martin Marietta Materials in a report on Friday, March 22nd. Wolfe Research cut Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a report on Friday, March 8th. Finally, Truist Financial raised their price target on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $610.25.

Martin Marietta Materials Trading Down 0.3 %

NYSE MLM opened at $533.32 on Friday. The firm has a market cap of $32.87 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.36 and a beta of 0.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The stock’s 50-day moving average is $569.49 and its 200-day moving average is $557.45. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67.

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

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

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.