HB Wealth Management LLC Trims Stake in Martin Marietta Materials, Inc. $MLM

HB Wealth Management LLC lowered its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,629 shares of the construction company’s stock after selling 1,216 shares during the period. HB Wealth Management LLC’s holdings in Martin Marietta Materials were worth $3,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Martin Marietta Materials during the second quarter valued at approximately $2,706,134,000. Victory Capital Management Inc. raised its holdings in Martin Marietta Materials by 51.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares in the last quarter. Bank of America Corp DE bought a new position in Martin Marietta Materials in the second quarter worth $1,411,047,000. Geode Capital Management LLC lifted its position in Martin Marietta Materials by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after buying an additional 10,743 shares during the period. Finally, Morgan Stanley lifted its position in Martin Marietta Materials by 5.3% during the fourth quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock valued at $851,188,000 after buying an additional 68,382 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

Shares of MLM opened at $516.12 on Tuesday. The firm has a fifty day simple moving average of $551.37 and a two-hundred day simple moving average of $583.61. The firm has a market cap of $31.00 billion, a PE ratio of 12.68, a P/E/G ratio of 2.22 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 1-year low of $502.56 and a 1-year high of $710.97.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.00 EPS for the quarter, topping the consensus estimate of $4.76 by $0.24. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.Martin Marietta Materials’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.43 earnings per share. On average, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.07 EPS for the current year.

Martin Marietta Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.83. Martin Marietta Materials’s dividend payout ratio is presently 8.26%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MLM. Morgan Stanley reduced their target price on shares of Martin Marietta Materials from $664.00 to $639.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings cut shares of Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Wolfe Research set a $648.00 price objective on shares of Martin Marietta Materials in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and set a $680.00 price objective on the stock in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada raised their target price on shares of Martin Marietta Materials from $610.00 to $620.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Martin Marietta Materials presently has an average rating of “Moderate Buy” and an average price target of $665.88.

Martin Marietta Materials Company 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.