Martin Marietta Materials, Inc. (NYSE:MLM) Stock Holdings Lowered by Spectrum Wealth Counsel LLC

Spectrum Wealth Counsel LLC reduced its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 25.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58 shares of the construction company’s stock after selling 20 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Martin Marietta Materials were worth $31,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Prosperity Consulting Group LLC increased its position in shares of Martin Marietta Materials by 26.0% in the second quarter. Prosperity Consulting Group LLC now owns 702 shares of the construction company’s stock worth $380,000 after acquiring an additional 145 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Martin Marietta Materials by 8.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 13,516 shares of the construction company’s stock worth $7,323,000 after acquiring an additional 1,098 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Martin Marietta Materials by 3.4% in the second quarter. Wealthspire Advisors LLC now owns 1,088 shares of the construction company’s stock worth $589,000 after acquiring an additional 36 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Martin Marietta Materials by 1.0% in the second quarter. William Blair Investment Management LLC now owns 374,811 shares of the construction company’s stock worth $203,073,000 after acquiring an additional 3,598 shares in the last quarter. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Martin Marietta Materials in the second quarter worth approximately $328,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

MLM stock opened at $520.68 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 3.52 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. The firm has a 50 day moving average of $541.32 and a two-hundred day moving average of $568.70.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $5.60 earnings per share. Martin Marietta Materials’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.33 EPS for the current fiscal year.

Martin Marietta Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date is Tuesday, September 3rd. Martin Marietta Materials’s payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of research analysts recently commented on MLM shares. Jefferies Financial Group boosted their price objective on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Truist Financial lowered 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 report on Friday, August 9th. Citigroup lowered their price objective on shares of 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. Stifel Nicolaus lowered their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Stephens lowered their price objective on shares of Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.82.

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.