Kovack Advisors Inc. Has $678,000 Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Kovack Advisors Inc. decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,313 shares of the construction company’s stock after selling 50 shares during the quarter. Kovack Advisors Inc.’s holdings in Martin Marietta Materials were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in Martin Marietta Materials during the fourth quarter worth about $32,000. First Personal Financial Services acquired a new position in shares of Martin Marietta Materials in the 3rd quarter worth approximately $33,000. Kestra Investment Management LLC bought a new stake in Martin Marietta Materials during the 4th quarter worth approximately $35,000. Retirement Wealth Solutions LLC acquired a new stake in Martin Marietta Materials during the 4th quarter valued at $41,000. Finally, R Squared Ltd acquired a new stake in Martin Marietta Materials during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial reduced their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Raymond James decreased their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Wolfe Research upgraded shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research report on Wednesday, January 8th. BNP Paribas lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, UBS Group initiated coverage on shares of Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $639.43.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock opened at $483.06 on Friday. The firm has a fifty day moving average of $527.00 and a two-hundred day moving average of $546.10. 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 $29.52 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 4.45 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $482.14 and a 52 week high of $633.23.

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

Martin Marietta Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $0.79 dividend. The ex-dividend date is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.65%. Martin Marietta Materials’s dividend payout ratio is 9.77%.

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.