Apollon Wealth Management LLC Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Apollon Wealth Management LLC boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,678 shares of the construction company’s stock after acquiring an additional 139 shares during the period. Apollon Wealth Management LLC’s holdings in Martin Marietta Materials were worth $1,336,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MLM. Pinnacle Bancorp Inc. purchased a new stake in Martin Marietta Materials during the fourth quarter valued at about $26,000. MV Capital Management Inc. boosted its position in Martin Marietta Materials by 144.4% during the 3rd quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock valued at $27,000 after buying an additional 39 shares during the period. Exchange Traded Concepts LLC bought a new stake in Martin Marietta Materials in the 4th quarter worth $27,000. Benjamin Edwards Inc. increased its holdings in Martin Marietta Materials by 78.8% during the 4th quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after purchasing an additional 26 shares during the period. Finally, Covestor Ltd lifted its holdings in Martin Marietta Materials by 84.6% in the 3rd quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after buying an additional 33 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stephens boosted their target price on Martin Marietta Materials from $575.00 to $605.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. StockNews.com lowered shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup upped their target price on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group lifted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $598.17.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $596.64 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The company has a market capitalization of $36.78 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.95. Martin Marietta Materials, Inc. has a one year low of $389.90 and a one year high of $626.67. The company’s 50-day moving average is $600.80 and its 200 day moving average is $526.10.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. Martin Marietta Materials’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. Sell-side analysts expect that Martin Marietta Materials, Inc. will post 21.7 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 4th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is currently 8.77%.

Insiders Place Their Bets

In other news, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the transaction, the executive vice president now directly owns 59,970 shares of the company’s stock, valued at approximately $36,179,301.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO C Howard Nye sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total value of $9,063,900.00. Following the completion of the sale, the chief executive officer now directly owns 134,640 shares in the company, valued at approximately $81,357,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roselyn R. Bar sold 10,000 shares of Martin Marietta Materials stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,724 shares of company stock valued at $16,033,760. Company insiders own 0.68% of the company’s stock.

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.