Kestra Private Wealth Services LLC Sells 52 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Kestra Private Wealth Services LLC lessened its position in shares of Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) by 3.0% in the first quarter, HoldingsChannel.com reports. The fund owned 1,676 shares of the construction company’s stock after selling 52 shares during the period. Kestra Private Wealth Services LLC’s holdings in Martin Marietta Materials were worth $645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tcwp LLC bought a new stake in shares of Martin Marietta Materials during the 1st quarter worth approximately $41,000. Fairfield Bush & CO. bought a new position in shares of Martin Marietta Materials in the 1st quarter valued at $46,000. Riverview Trust Co bought a new position in shares of Martin Marietta Materials in the 1st quarter valued at $50,000. Prospera Financial Services Inc bought a new position in shares of Martin Marietta Materials in the 1st quarter valued at $53,000. Finally, CVA Family Office LLC increased its stake in shares of Martin Marietta Materials by 211.1% in the 1st quarter. CVA Family Office LLC now owns 140 shares of the construction company’s stock valued at $54,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 93.51% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $330.18 on Monday. The business’s 50 day simple moving average is $344.95 and its 200 day simple moving average is $346.68. Martin Marietta Materials, Inc. has a one year low of $284.99 and a one year high of $446.46. The stock has a market capitalization of $20.59 billion, a PE ratio of 25.86, a PEG ratio of 1.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.63 and a quick ratio of 2.53.

Martin Marietta Materials (NYSE:MLMGet Rating) last announced its earnings results on Thursday, July 28th. The construction company reported $3.96 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.13). Martin Marietta Materials had a return on equity of 11.28% and a net margin of 13.49%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the business earned $3.81 EPS. Martin Marietta Materials’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, research analysts forecast that Martin Marietta Materials, Inc. will post 13.27 earnings per share for the current year.

Martin Marietta Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, August 31st. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.61. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 20.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup increased their target price on shares of Martin Marietta Materials to $410.00 in a report on Tuesday, August 9th. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and decreased their target price for the stock from $406.00 to $384.00 in a research note on Thursday, July 14th. TheStreet raised shares of Martin Marietta Materials from a “c+” rating to a “b-” rating in a research note on Wednesday, August 10th. Truist Financial decreased their target price on shares of Martin Marietta Materials to $392.00 in a research note on Tuesday, July 5th. Finally, Morgan Stanley increased their target price on Martin Marietta Materials from $394.00 to $420.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $411.60.

About Martin Marietta Materials

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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.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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