Atria Wealth Solutions Inc. Raises Stock Position in Martin Marietta Materials, Inc. (NYSE:MLM)

Atria Wealth Solutions Inc. raised its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,729 shares of the construction company’s stock after purchasing an additional 675 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Martin Marietta Materials were worth $1,926,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its position in Martin Marietta Materials by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 782 shares of the construction company’s stock valued at $421,000 after purchasing an additional 19 shares during the period. iA Global Asset Management Inc. increased its position in Martin Marietta Materials by 3.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 570 shares of the construction company’s stock valued at $307,000 after purchasing an additional 20 shares during the period. Brooklyn Investment Group increased its position in Martin Marietta Materials by 4.7% during the 4th quarter. Brooklyn Investment Group now owns 447 shares of the construction company’s stock valued at $231,000 after purchasing an additional 20 shares during the period. Financial Counselors Inc. increased its position in Martin Marietta Materials by 1.9% during the 3rd quarter. Financial Counselors Inc. now owns 1,123 shares of the construction company’s stock valued at $604,000 after purchasing an additional 21 shares during the period. Finally, OLD National Bancorp IN increased its position in Martin Marietta Materials by 4.5% during the 4th quarter. OLD National Bancorp IN now owns 483 shares of the construction company’s stock valued at $249,000 after purchasing an additional 21 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MLM. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price on the stock in a report on Wednesday, January 8th. Morgan Stanley dropped their target price on shares of Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. UBS Group began coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They set a “buy” rating and a $730.00 target price on the stock. Barclays dropped their target price on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial dropped their target price on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $639.43.

Martin Marietta Materials Price Performance

MLM opened at $489.94 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.40 and a current ratio of 2.50. The stock has a market capitalization of $29.95 billion, a P/E ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91. The company’s 50-day simple moving average is $530.12 and its two-hundred day simple moving average is $547.08. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23.

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

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, March 3rd. Martin Marietta Materials’s payout ratio is currently 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.