Simon Quick Advisors LLC Has $986,000 Stock Position in Martin Marietta Materials, Inc. $MLM

Simon Quick Advisors LLC cut its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 53.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,583 shares of the construction company’s stock after selling 1,796 shares during the period. Simon Quick Advisors LLC’s holdings in Martin Marietta Materials were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after purchasing an additional 49 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Martin Marietta Materials by 11.4% in the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock valued at $673,000 after purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Martin Marietta Materials by 11.1% during the second quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after buying an additional 51 shares during the period. EverSource Wealth Advisors LLC raised its stake in Martin Marietta Materials by 205.9% during the second quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after buying an additional 175 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in Martin Marietta Materials by 22.6% in the second quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock valued at $427,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial set a $710.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Citigroup boosted their price objective on Martin Marietta Materials from $780.00 to $804.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $785.00 target price on shares of Martin Marietta Materials in a research note on Thursday, February 26th. Finally, Weiss Ratings downgraded Martin Marietta Materials from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Martin Marietta Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $692.06.

Martin Marietta Materials Trading Up 0.0%

NYSE:MLM opened at $615.35 on Monday. The company has a current ratio of 3.57, a quick ratio of 2.36 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $37.08 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.26 and a beta of 1.19. The firm has a fifty day simple moving average of $619.83 and a two-hundred day simple moving average of $628.55. Martin Marietta Materials, Inc. has a 12 month low of $490.31 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a net margin of 17.38% and a return on equity of 10.86%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the firm posted $4.79 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Martin Marietta Materials, Inc. will post 19.51 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Martin Marietta Materials’s payout ratio is presently 17.66%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.