Insight Wealth Strategies LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317 shares of the construction company’s stock after buying an additional 327 shares during the period. Insight Wealth Strategies LLC’s holdings in Martin Marietta Materials were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in MLM. Charter Oak Capital Management LLC purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $27,000. Concord Wealth Partners purchased a new stake in Martin Marietta Materials during the 4th quarter valued at about $28,000. Wealthcare Advisory Partners LLC purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $28,000. E Fund Management Co. Ltd. purchased a new stake in Martin Marietta Materials during the 1st quarter valued at about $37,000. Finally, Meeder Asset Management Inc. grew its stake in Martin Marietta Materials by 33.7% during the 1st quarter. Meeder Asset Management Inc. now owns 139 shares of the construction company’s stock valued at $47,000 after purchasing an additional 35 shares during the last quarter. 91.93% of the stock is currently owned by institutional investors.
Several analysts have weighed in on MLM shares. Morgan Stanley boosted their price target on Martin Marietta Materials from $372.00 to $408.00 and gave the company an “overweight” rating in a research note on Monday, May 10th. JPMorgan Chase & Co. upped their target price on Martin Marietta Materials from $335.00 to $385.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 26th. Finally, Barclays upped their target price on Martin Marietta Materials from $275.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 28th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $298.63.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, May 4th. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.54. The company had revenue of $982.40 million for the quarter, compared to the consensus estimate of $968.53 million. Martin Marietta Materials had a return on equity of 13.18% and a net margin of 15.99%. Martin Marietta Materials’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. Equities research analysts anticipate that Martin Marietta Materials, Inc. will post 12.64 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.64%. Martin Marietta Materials’s payout ratio is currently 19.76%.
Martin Marietta Materials 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 used in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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