Procyon Advisors LLC Increases Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Procyon Advisors LLC raised its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 15.6% in the 4th quarter, HoldingsChannel reports. The fund owned 3,335 shares of the construction company’s stock after buying an additional 450 shares during the quarter. Procyon Advisors LLC’s holdings in Martin Marietta Materials were worth $1,722,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Edgestream Partners L.P. acquired a new stake in Martin Marietta Materials during the second quarter worth approximately $673,000. Mercer Global Advisors Inc. ADV raised its stake in Martin Marietta Materials by 239.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,152 shares of the construction company’s stock worth $3,333,000 after acquiring an additional 4,337 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Martin Marietta Materials by 6.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,964 shares of the construction company’s stock worth $2,655,000 after acquiring an additional 284 shares in the last quarter. Hsbc Holdings PLC lifted its position in Martin Marietta Materials by 20.0% in the second quarter. Hsbc Holdings PLC now owns 128,806 shares of the construction company’s stock valued at $69,839,000 after acquiring an additional 21,488 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Martin Marietta Materials by 66.4% in the second quarter. XTX Topco Ltd now owns 2,641 shares of the construction company’s stock valued at $1,431,000 after acquiring an additional 1,054 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 MLM stock opened at $543.33 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $555.95 and a 200-day simple moving average of $550.86. The company has a market cap of $33.21 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Martin Marietta Materials, Inc. has a 12-month low of $490.05 and a 12-month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $5.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.41 by ($0.50). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations 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 was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.94 EPS. On average, equities analysts forecast that Martin Marietta Materials, Inc. will post 17.6 EPS for the current year.

Martin Marietta Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Monday, December 2nd. Martin Marietta Materials’s dividend payout ratio is currently 9.85%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MLM shares. Loop Capital lifted their target price on Martin Marietta Materials from $600.00 to $680.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wolfe Research upgraded Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 price objective for the company in a research note on Wednesday, January 8th. Citigroup lowered their target price on shares of Martin Marietta Materials from $701.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group assumed coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target for the company. Finally, Raymond James lowered their price objective on shares of Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Martin Marietta Materials currently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

About Martin Marietta Materials

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.