HB Wealth Management LLC Purchases 148 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

HB Wealth Management LLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,531 shares of the construction company’s stock after acquiring an additional 148 shares during the quarter. HB Wealth Management LLC’s holdings in Martin Marietta Materials were worth $3,890,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Martin Marietta Materials by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,678,425 shares of the construction company’s stock valued at $1,441,663,000 after purchasing an additional 506,705 shares during the period. FMR LLC lifted its holdings in Martin Marietta Materials by 15.3% in the third quarter. FMR LLC now owns 2,515,441 shares of the construction company’s stock valued at $1,353,936,000 after buying an additional 334,605 shares during the period. Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 76.2% in the third quarter. Principal Financial Group Inc. now owns 1,628,701 shares of the construction company’s stock valued at $876,648,000 after acquiring an additional 704,460 shares during the last quarter. Franklin Resources Inc. grew its holdings in Martin Marietta Materials by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 534,801 shares of the construction company’s stock worth $295,397,000 after acquiring an additional 9,908 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in Martin Marietta Materials by 54.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 467,782 shares of the construction company’s stock worth $251,784,000 after acquiring an additional 164,503 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MLM shares. StockNews.com upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. BNP Paribas lowered shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price for the company in a research note on Wednesday, January 8th. Jefferies Financial Group decreased their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised Martin Marietta Materials from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $648.71.

Martin Marietta Materials Stock Up 2.3 %

Martin Marietta Materials stock opened at $543.33 on Friday. The company has a fifty day simple moving average of $555.95 and a 200 day simple moving average of $550.97. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. Martin Marietta Materials, Inc. has a 1-year low of $490.05 and a 1-year high of $633.23. The company has a market cap of $33.21 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.94 EPS. Research analysts anticipate that Martin Marietta Materials, Inc. will post 17.6 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a dividend of $0.79 per share. The ex-dividend date was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. Martin Marietta Materials’s payout ratio is 9.85%.

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 for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.