RMR Wealth Builders Buys 1,941 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

RMR Wealth Builders grew its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 431.3% during the fourth quarter, Holdings Channel reports. The firm owned 2,391 shares of the construction company’s stock after purchasing an additional 1,941 shares during the period. RMR Wealth Builders’ holdings in Martin Marietta Materials were worth $1,235,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Newbridge Financial Services Group Inc. lifted its stake in Martin Marietta Materials by 411.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after acquiring an additional 37 shares in the last quarter. Asset Dedication LLC raised its holdings in shares of Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. First Personal Financial Services purchased a new position in Martin Marietta Materials during the third quarter worth about $33,000. Larson Financial Group LLC bought a new stake in Martin Marietta Materials in the 3rd quarter worth about $49,000. Finally, Tobam grew its position in Martin Marietta Materials by 38.8% in the 3rd quarter. Tobam now owns 93 shares of the construction company’s stock worth $50,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.8 %

NYSE MLM opened at $532.12 on Thursday. The stock’s 50-day moving average price is $559.19 and its 200-day moving average price is $550.92. The company has a market capitalization of $32.52 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Martin Marietta Materials, Inc. has a 52 week low of $489.90 and a 52 week high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

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

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $515.00 to $640.00 in a research note on Wednesday, November 27th. Loop Capital upped their target price on shares of Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group decreased their price target on shares of Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $643.36.

Martin Marietta Materials 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.