Prevail Innovative Wealth Advisors LLC Takes $3.40 Million Position 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) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 bought and sold shares of MLM. Lee Danner & Bass Inc. acquired a new stake in shares of Martin Marietta Materials during the 4th quarter valued at about $28,000. Whipplewood Advisors LLC acquired a new position in shares of Martin Marietta Materials during the 4th quarter worth $32,000. Kestra Investment Management LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter valued at $35,000. Hopwood Financial Services Inc. acquired a new stake in shares of Martin Marietta Materials in the 4th quarter valued at $36,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MLM. Seaport Res Ptn raised Martin Marietta Materials to a “strong-buy” rating in a research report on Friday, March 21st. Morgan Stanley dropped their price objective 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. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. Truist Financial decreased their price objective on Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Stephens cut their target price on Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $628.64.

Martin Marietta Materials Stock Down 1.3 %

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

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, February 12th. The construction company reported $4.79 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%. On average, sell-side analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.66%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 9.77%.

Insider Buying and Selling

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of Martin Marietta Materials stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $475.00, for a total transaction of $632,700.00. Following the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at approximately $1,673,425. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Petro purchased 550 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by insiders.

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.