High Net Worth Advisory Group LLC Makes New Investment in Martin Marietta Materials, Inc. (NYSE:MLM)

High Net Worth Advisory Group LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 392 shares of the construction company’s stock, valued at approximately $202,000.

Other large investors have also recently made changes to their positions in the company. Franklin Street Advisors Inc. NC boosted its stake in Martin Marietta Materials by 15.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after buying an additional 3,384 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Martin Marietta Materials by 18.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock worth $4,914,000 after acquiring an additional 1,286 shares in the last quarter. RMR Wealth Builders boosted its position in shares of Martin Marietta Materials by 431.3% during the 4th quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock valued at $1,235,000 after acquiring an additional 1,941 shares during the last quarter. Kovack Advisors Inc. purchased a new position in shares of Martin Marietta Materials in the third quarter valued at $734,000. Finally, Benjamin Edwards Inc. increased its position in Martin Marietta Materials by 2,448.1% in the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after purchasing an additional 1,322 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MLM shares. Loop Capital lifted their price objective on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BNP Paribas cut Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $515.00 to $640.00 in a research note on Wednesday, November 27th. UBS Group initiated coverage on Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Finally, Hsbc Global Res upgraded Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

Martin Marietta Materials Stock Down 0.1 %

NYSE:MLM opened at $548.40 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.34 and a quick ratio of 1.24. Martin Marietta Materials, Inc. has a 1-year low of $490.05 and a 1-year high of $633.23. The company has a 50-day moving average of $550.81 and a 200 day moving average of $551.56. The firm has a market cap of $33.52 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 3.21 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.94 earnings per share. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.57 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $0.79 dividend. The ex-dividend date was Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.85%.

About Martin Marietta Materials

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.