180 Wealth Advisors LLC Acquires New Position in Martin Marietta Materials, Inc. (NYSE:MLM)

180 Wealth Advisors LLC purchased a new position in Martin Marietta Materials, Inc. (NYSE:MLM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,080 shares of the construction company’s stock, valued at approximately $493,000.

Several other hedge funds have also modified their holdings of MLM. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth $26,000. Quarry LP acquired a new stake in Martin Marietta Materials in the first quarter worth about $30,000. First Horizon Advisors Inc. lifted its holdings in shares of Martin Marietta Materials by 212.9% during the fourth quarter. First Horizon Advisors Inc. now owns 97 shares of the construction company’s stock worth $33,000 after purchasing an additional 66 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Martin Marietta Materials during the first quarter worth about $36,000. Finally, ZRC Wealth Management LLC acquired a new stake in shares of Martin Marietta Materials during the first quarter worth about $39,000. 93.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Craig M. Latorre sold 1,934 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $431.68, for a total value of $834,869.12. Following the transaction, the vice president now owns 9,731 shares in the company, valued at $4,200,678.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Craig M. Latorre sold 1,934 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $431.68, for a total value of $834,869.12. Following the completion of the sale, the vice president now directly owns 9,731 shares of the company’s stock, valued at $4,200,678.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Craig M. Latorre sold 500 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $447.09, for a total value of $223,545.00. Following the completion of the sale, the vice president now directly owns 11,665 shares of the company’s stock, valued at $5,215,304.85. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MLM shares. Citigroup boosted their price target on Martin Marietta Materials from $460.00 to $527.00 and gave the company a “buy” rating in a report on Friday, July 14th. HSBC started coverage on Martin Marietta Materials in a research report on Friday. They issued a “reduce” rating and a $376.00 price objective for the company. Stephens boosted their price target on Martin Marietta Materials from $475.00 to $525.00 in a research report on Wednesday, July 26th. StockNews.com started coverage on Martin Marietta Materials in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on Martin Marietta Materials from $470.00 to $490.00 and gave the stock a “neutral” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $465.07.

Martin Marietta Materials Price Performance

Shares of Martin Marietta Materials stock opened at $428.04 on Tuesday. Martin Marietta Materials, Inc. has a twelve month low of $298.32 and a twelve month high of $463.41. The stock has a market capitalization of $26.53 billion, a P/E ratio of 28.09, a PEG ratio of 1.27 and a beta of 0.90. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $447.47 and its 200 day moving average price is $407.51.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Thursday, July 27th. The construction company reported $5.60 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.77. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Martin Marietta Materials had a return on equity of 13.42% and a net margin of 14.68%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 earnings per share. As a group, research analysts anticipate that Martin Marietta Materials, Inc. will post 17.56 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.74 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.96 annualized dividend and a dividend yield of 0.69%. Martin Marietta Materials’s payout ratio is 19.42%.

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.