Strategic Wealth Partners Ltd. Purchases New Shares in Martin Marietta Materials, Inc. (NYSE:MLM)

Strategic Wealth Partners Ltd. purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 485 shares of the construction company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Schear Investment Advisers LLC increased its stake in Martin Marietta Materials by 1.2% in the 4th quarter. Schear Investment Advisers LLC now owns 1,647 shares of the construction company’s stock valued at $822,000 after buying an additional 20 shares during the period. Parallel Advisors LLC increased its stake in Martin Marietta Materials by 1.8% in the 4th quarter. Parallel Advisors LLC now owns 1,170 shares of the construction company’s stock valued at $584,000 after buying an additional 21 shares during the period. Pitcairn Co. increased its stake in Martin Marietta Materials by 5.0% in the 1st quarter. Pitcairn Co. now owns 442 shares of the construction company’s stock valued at $271,000 after buying an additional 21 shares during the period. Independence Bank of Kentucky increased its stake in Martin Marietta Materials by 16.9% in the 4th quarter. Independence Bank of Kentucky now owns 152 shares of the construction company’s stock valued at $76,000 after buying an additional 22 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Martin Marietta Materials by 5.0% in the 4th quarter. Global Retirement Partners LLC now owns 460 shares of the construction company’s stock valued at $228,000 after buying an additional 22 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Trading Down 2.8 %

Shares of MLM stock traded down $16.64 during trading hours on Friday, hitting $568.25. 399,345 shares of the company were exchanged, compared to its average volume of 437,679. The firm has a market cap of $35.03 billion, a PE ratio of 16.76, a PEG ratio of 3.16 and a beta of 0.91. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $555.96 and a 200 day moving average of $566.58.

Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.05. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates 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 was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. Analysts expect that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $0.74 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.96 annualized dividend and a yield of 0.52%. Martin Marietta Materials’s payout ratio is 8.77%.

Analyst Ratings Changes

Several equities analysts have issued reports on MLM shares. Stifel Nicolaus dropped 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 note on Wednesday, July 3rd. Citigroup dropped their price objective on shares of Martin Marietta Materials from $696.00 to $658.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. The Goldman Sachs Group upped their price target on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group upped their price target on shares of Martin Marietta Materials from $660.00 to $665.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $628.91.

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.