Prevail Innovative Wealth Advisors LLC Purchases New Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,589 shares of the construction company’s stock, valued at approximately $3,403,000.

A number of other institutional investors have also recently modified their holdings of MLM. Lee Danner & Bass Inc. acquired a new position in Martin Marietta Materials during the fourth quarter worth about $28,000. Whipplewood Advisors LLC bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth $32,000. Kestra Investment Management LLC acquired a new position in shares of Martin Marietta Materials during the fourth quarter worth $35,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials in the fourth quarter valued at about $36,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Martin Marietta Materials by 91.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MLM. Barclays lowered their target price on Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus began coverage on Martin Marietta Materials in a research note on Tuesday, March 4th. They issued a “buy” rating and a $559.00 target price for the company. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $640.00 to $560.00 in a report on Wednesday, March 19th. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Seaport Res Ptn upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $628.64.

Insider Buying and Selling

In other news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. This represents a 27.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael J. Petro purchased 550 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $454.37 per share, for a total transaction of $249,903.50. Following the completion of the purchase, the senior vice president now directly owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This represents a 6.52 % increase in their position. The disclosure for this purchase can be found here. 0.68% of the stock is owned by company insiders.

Martin Marietta Materials Trading Down 1.3 %

Shares of MLM opened at $477.92 on Friday. Martin Marietta Materials, Inc. has a twelve month low of $448.50 and a twelve month high of $633.23. The stock has a market cap of $29.14 billion, a PE ratio of 14.78, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $507.03 and its 200-day moving average price is $538.56.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s dividend payout ratio is 9.77%.

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.