Castle Wealth Management LLC Raises Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Castle Wealth Management LLC lifted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077 shares of the construction company’s stock after purchasing an additional 52 shares during the period. Castle Wealth Management LLC’s holdings in Martin Marietta Materials were worth $556,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC increased its stake in shares of Martin Marietta Materials by 1,300.0% during the 3rd quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. First Personal Financial Services purchased a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $33,000. R Squared Ltd purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $41,000. Retirement Wealth Solutions LLC purchased a new position in shares of Martin Marietta Materials during the 4th quarter worth approximately $41,000. Finally, Larson Financial Group LLC purchased a new position in shares of Martin Marietta Materials during the 3rd quarter worth approximately $49,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

NYSE:MLM opened at $516.72 on Thursday. 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 firm has a market capitalization of $31.58 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 4.62 and a beta of 0.91. The firm’s fifty day simple moving average is $538.08 and its 200 day simple moving average is $549.88. Martin Marietta Materials, Inc. has a twelve month low of $482.72 and a twelve month high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. As a group, equities research analysts expect that Martin Marietta Materials, Inc. will post 17.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MLM has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Martin Marietta Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $730.00 target price for the company. Wolfe Research raised shares of Martin Marietta Materials from a “peer perform” rating to an “outperform” rating and set a $563.00 target price 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 for the company in a research note on Monday, January 6th. HSBC raised shares of Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 target price for the company in a research note on Wednesday, December 11th. Finally, Loop Capital lifted 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 note on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average price target of $648.71.

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.