Arkadios Wealth Advisors Boosts Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Arkadios Wealth Advisors grew its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 46.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,934 shares of the construction company’s stock after purchasing an additional 615 shares during the quarter. Arkadios Wealth Advisors’ holdings in Martin Marietta Materials were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. NorthCrest Asset Manangement LLC raised its stake in Martin Marietta Materials by 5.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 28,288 shares of the construction company’s stock worth $15,226,000 after buying an additional 1,497 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Martin Marietta Materials by 8.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,846 shares of the construction company’s stock valued at $4,230,000 after acquiring an additional 635 shares during the period. Parcion Private Wealth LLC bought a new position in shares of Martin Marietta Materials in the 3rd quarter worth $302,000. Allworth Financial LP lifted its stake in shares of Martin Marietta Materials by 89.3% during the 3rd quarter. Allworth Financial LP now owns 799 shares of the construction company’s stock worth $430,000 after purchasing an additional 377 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its position in Martin Marietta Materials by 4.9% during the third quarter. Mediolanum International Funds Ltd now owns 6,448 shares of the construction company’s stock valued at $3,470,000 after purchasing an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley boosted their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Stifel Nicolaus reduced their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Citigroup lowered their target price on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group reduced their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, BNP Paribas upgraded Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $619.36.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $570.21 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. The stock has a 50-day moving average of $536.79 and a two-hundred day moving average of $556.47. The stock has a market cap of $35.15 billion, a P/E ratio of 16.90, a P/E/G ratio of 4.62 and a beta of 0.91. 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 earnings results on Thursday, August 8th. The construction company reported $4.76 EPS for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the firm earned $5.60 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts predict that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.79 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change from Martin Marietta Materials’s previous quarterly dividend of $0.74. Martin Marietta Materials’s dividend payout ratio is presently 9.36%.

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.