Fifth Third Wealth Advisors LLC Raises Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Fifth Third Wealth Advisors LLC lifted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 914 shares of the construction company’s stock after buying an additional 60 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Martin Marietta Materials were worth $437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $35,000. Hopwood Financial Services Inc. purchased a new stake in Martin Marietta Materials in the fourth quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Trading Up 0.8%

Shares of MLM stock opened at $546.03 on Wednesday. The stock has a market cap of $32.92 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a fifty-two week low of $441.95 and a fifty-two week high of $633.23. The firm’s 50 day moving average price is $517.64 and its two-hundred day moving average price is $524.68.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company posted $1.93 earnings per share. Martin Marietta Materials’s revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.58%. Martin Marietta Materials’s payout ratio is currently 18.20%.

Analyst Ratings Changes

MLM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. Stifel Nicolaus boosted their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of Martin Marietta Materials to a “strong-buy” rating in a report on Friday, March 21st. Wall Street Zen downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Raymond James lowered their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $610.69.

Martin Marietta Materials Company 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.