Wealth Enhancement Advisory Services LLC Has $1.85 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 40.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,413 shares of the construction company’s stock after selling 2,309 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Martin Marietta Materials were worth $1,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in Martin Marietta Materials during the fourth quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in Martin Marietta Materials in the 1st quarter valued at $26,000. Benjamin Edwards Inc. grew its position in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Martin Marietta Materials during the first quarter worth $31,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock valued at $34,000 after acquiring an additional 41 shares during the period. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

MLM has been the topic of several analyst reports. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Truist Financial decreased their price objective on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Stephens cut their target price on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Citigroup decreased their price target on Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, Stifel Nicolaus cut their price objective on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $624.18.

Martin Marietta Materials Stock Down 0.9 %

Shares of MLM opened at $534.93 on Monday. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 3.12 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. The business’s fifty day moving average price is $550.34 and its two-hundred day moving average price is $570.24.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.36 by ($0.60). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.83 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. Martin Marietta Materials’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.60 EPS. On average, analysts predict that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.36%.

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.