Martin Marietta Materials, Inc. (NYSE:MLM) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,335 shares of the construction company’s stock after purchasing an additional 450 shares during the quarter. Procyon Advisors LLC’s holdings in Martin Marietta Materials were worth $1,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Franklin Street Advisors Inc. NC grew its holdings in Martin Marietta Materials by 15.5% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 25,242 shares of the construction company’s stock valued at $13,037,000 after buying an additional 3,384 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Martin Marietta Materials by 18.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,220 shares of the construction company’s stock valued at $4,914,000 after acquiring an additional 1,286 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Martin Marietta Materials in the third quarter valued at about $734,000. Benjamin Edwards Inc. increased its position in Martin Marietta Materials by 2,448.1% during the third quarter. Benjamin Edwards Inc. now owns 1,376 shares of the construction company’s stock worth $741,000 after purchasing an additional 1,322 shares during the last quarter. Finally, RMR Wealth Builders raised its stake in Martin Marietta Materials by 431.3% during the fourth quarter. RMR Wealth Builders now owns 2,391 shares of the construction company’s stock worth $1,235,000 after purchasing an additional 1,941 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of MLM stock opened at $543.33 on Friday. Martin Marietta Materials, Inc. has a 52 week low of $490.05 and a 52 week high of $633.23. The firm has a 50 day moving average of $555.95 and a two-hundred day moving average of $550.86. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $33.21 billion, a PE ratio of 16.93, a P/E/G ratio of 2.97 and a beta of 0.91.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing the consensus estimate of $6.41 by ($0.50). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.94 billion. Martin Marietta Materials had a return on equity of 12.53% and a net margin of 30.47%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.94 earnings per share. On average, research analysts predict that Martin Marietta Materials, Inc. will post 17.6 EPS for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $3.16 annualized dividend and a yield of 0.58%. Martin Marietta Materials’s dividend payout ratio (DPR) is 9.85%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MLM. StockNews.com raised shares of Martin Marietta Materials from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Morgan Stanley lowered their price objective on Martin Marietta Materials from $657.00 to $622.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Barclays lifted their target price on Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Jefferies Financial Group lowered their price target on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $515.00 to $640.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

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.