Prestige Wealth Management Group LLC Has $557,000 Position in Martin Marietta Materials, Inc. $MLM

Prestige Wealth Management Group LLC increased its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4,605.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 894 shares of the construction company’s stock after purchasing an additional 875 shares during the period. Prestige Wealth Management Group LLC’s holdings in Martin Marietta Materials were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MLM. Integrated Wealth Concepts LLC increased its stake in Martin Marietta Materials by 6.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 794 shares of the construction company’s stock worth $379,000 after acquiring an additional 49 shares during the period. Empowered Funds LLC increased its stake in Martin Marietta Materials by 11.4% during the 1st quarter. Empowered Funds LLC now owns 1,408 shares of the construction company’s stock worth $673,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC increased its stake in Martin Marietta Materials by 11.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 510 shares of the construction company’s stock worth $280,000 after acquiring an additional 51 shares during the period. EverSource Wealth Advisors LLC increased its stake in Martin Marietta Materials by 205.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 260 shares of the construction company’s stock worth $143,000 after acquiring an additional 175 shares during the period. Finally, Cresset Asset Management LLC increased its stake in Martin Marietta Materials by 22.6% during the 2nd quarter. Cresset Asset Management LLC now owns 777 shares of the construction company’s stock worth $427,000 after acquiring an additional 143 shares during the period. Institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 0.3%

Shares of MLM opened at $581.54 on Friday. Martin Marietta Materials, Inc. has a 52-week low of $525.38 and a 52-week high of $710.97. The business’s fifty day moving average is $591.56 and its 200-day moving average is $620.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The firm has a market cap of $34.92 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.47 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $1.90 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.41 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be given a dividend of $0.83 per share. The ex-dividend date is Monday, June 1st. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Wall Street Analyst Weigh In

A number of research firms have commented on MLM. Royal Bank Of Canada lowered their price objective on Martin Marietta Materials from $630.00 to $615.00 and set a “sector perform” rating on the stock in a research note on Monday, May 4th. Raymond James Financial set a $690.00 price objective on Martin Marietta Materials in a research note on Monday, April 27th. Wall Street Zen upgraded Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. B. Riley Financial upgraded Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price objective on the stock in a research note on Thursday, April 2nd. Finally, Morgan Stanley lowered their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $681.94.

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.