180 Wealth Advisors LLC Invests $670,000 in Martin Marietta Materials, Inc. (NYSE:MLM)

180 Wealth Advisors LLC bought a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,092 shares of the construction company’s stock, valued at approximately $670,000.

Other hedge funds have also recently bought and sold shares of the company. Schear Investment Advisers LLC increased its position in shares of Martin Marietta Materials by 1.2% in the fourth quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock worth $822,000 after acquiring an additional 20 shares in the last quarter. Parallel Advisors LLC raised its position in Martin Marietta Materials by 1.8% in the fourth quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after purchasing an additional 21 shares during the period. Independence Bank of Kentucky lifted its stake in shares of Martin Marietta Materials by 16.9% during the fourth quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock worth $76,000 after purchasing an additional 22 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Martin Marietta Materials by 5.0% in the fourth quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock worth $228,000 after buying an additional 22 shares during the period. Finally, Spreng Capital Management Inc. grew its stake in shares of Martin Marietta Materials by 3.1% in the fourth quarter. Spreng Capital Management Inc. now owns 775 shares of the construction company’s stock valued at $387,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Performance

Shares of Martin Marietta Materials stock traded up $2.65 on Thursday, reaching $538.33. 457,522 shares of the company were exchanged, compared to its average volume of 420,477. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.35 and a beta of 0.93. The company’s 50-day moving average is $574.87 and its two-hundred day moving average is $555.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.41 and a current ratio of 3.16. Martin Marietta Materials, Inc. has a 1-year low of $389.90 and a 1-year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.05. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a net margin of 31.35% and a return on equity of 14.74%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, research analysts expect that Martin Marietta Materials, Inc. will post 23.29 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.74 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.55%. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 8.77%.

Analysts Set New Price Targets

MLM has been the topic of several recent research reports. Citigroup boosted their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. The Goldman Sachs Group boosted their price target on Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Stifel Nicolaus raised their price target on shares of Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Truist Financial increased their price objective on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Martin Marietta Materials has an average rating of “Moderate Buy” and a consensus price target of $610.27.

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.