Congress Wealth Management LLC DE Sells 310 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Congress Wealth Management LLC DE decreased its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,388 shares of the construction company’s stock after selling 310 shares during the quarter. Congress Wealth Management LLC DE owned 0.09% of Martin Marietta Materials worth $35,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Martin Marietta Materials by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 7,170,166 shares of the construction company’s stock valued at $3,577,268,000 after acquiring an additional 69,701 shares during the period. JPMorgan Chase & Co. grew its position in Martin Marietta Materials by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,042,537 shares of the construction company’s stock valued at $838,421,000 after purchasing an additional 181,136 shares during the last quarter. Norges Bank bought a new stake in shares of Martin Marietta Materials during the fourth quarter valued at approximately $308,705,000. Dimensional Fund Advisors LP raised its stake in shares of Martin Marietta Materials by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 615,396 shares of the construction company’s stock worth $307,026,000 after purchasing an additional 27,775 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Martin Marietta Materials by 0.8% during the 4th quarter. DAVENPORT & Co LLC now owns 423,953 shares of the construction company’s stock valued at $211,103,000 after acquiring an additional 3,292 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 1.8 %

Shares of MLM traded down $9.75 during trading hours on Monday, reaching $532.05. 477,612 shares of the company traded hands, compared to its average volume of 422,547. The stock’s fifty day moving average price is $573.14 and its 200 day moving average price is $557.48. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.80 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.40 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month 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 analysts’ consensus estimates of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. Martin Marietta Materials’s quarterly revenue was down 7.6% on a year-over-year basis. Sell-side analysts forecast that Martin Marietta Materials, Inc. will post 23.1 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.56%. The ex-dividend date was Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MLM shares. Truist Financial lifted their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Citigroup raised their price target on Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on Martin Marietta Materials from $621.00 to $650.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wolfe Research downgraded Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Finally, StockNews.com downgraded Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $610.27.

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.