Western Pacific Wealth Management LP Reduces Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Western Pacific Wealth Management LP cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 31.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143 shares of the construction company’s stock after selling 67 shares during the period. Western Pacific Wealth Management LP’s holdings in Martin Marietta Materials were worth $68,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC raised its stake in shares of Martin Marietta Materials by 14.1% in the fourth quarter. Empowered Funds LLC now owns 1,264 shares of the construction company’s stock worth $653,000 after buying an additional 156 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Martin Marietta Materials by 36.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 31,142 shares of the construction company’s stock valued at $16,469,000 after purchasing an additional 8,367 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Martin Marietta Materials by 5.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 861 shares of the construction company’s stock worth $445,000 after buying an additional 43 shares during the period. ABC Arbitrage SA bought a new position in Martin Marietta Materials in the 4th quarter worth $726,000. Finally, Congress Asset Management Co. increased its stake in Martin Marietta Materials by 0.4% in the 4th quarter. Congress Asset Management Co. now owns 254,116 shares of the construction company’s stock worth $131,251,000 after buying an additional 938 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance

NYSE MLM opened at $541.87 on Monday. Martin Marietta Materials, Inc. has a 1 year low of $441.95 and a 1 year high of $633.23. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.50 and a quick ratio of 1.40. The stock’s fifty day moving average price is $529.68 and its 200 day moving average price is $521.85.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $1.90 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business posted $1.93 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

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 paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Monday, June 2nd. Martin Marietta Materials’s payout ratio is currently 18.20%.

Wall Street Analysts Forecast Growth

MLM has been the topic of several research analyst reports. Loop Capital lowered their price objective on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Wall Street Zen lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. Raymond James lowered their target price on shares of Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus raised their target price on shares of Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. downgraded shares of Martin Marietta Materials from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $640.00 to $560.00 in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $610.69.

About Martin Marietta Materials

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.