Wedmont Private Capital Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Wedmont Private Capital lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 25.5% during the second quarter, Holdings Channel reports. The institutional investor owned 596 shares of the construction company’s stock after buying an additional 121 shares during the quarter. Wedmont Private Capital’s holdings in Martin Marietta Materials were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new position in Martin Marietta Materials in the fourth quarter worth $25,000. Riverview Trust Co acquired a new stake in shares of Martin Marietta Materials in the 1st quarter worth $26,000. Benjamin Edwards Inc. boosted its position in shares of Martin Marietta Materials by 78.8% in the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in Martin Marietta Materials by 74.3% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after buying an additional 26 shares during the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of NYSE MLM traded up $1.94 during trading on Tuesday, reaching $527.05. 453,255 shares of the company traded hands, compared to its average volume of 445,487. The stock has a market cap of $32.49 billion, a P/E ratio of 15.63, a PEG ratio of 3.12 and a beta of 0.91. The firm’s fifty day simple moving average is $552.11 and its 200 day simple moving average is $569.63. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.60). Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the business posted $5.60 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus dropped their price target on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Stephens dropped their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Monday. Citigroup lowered their price objective 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. Finally, Loop Capital cut their target price on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $624.18.

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.