Prestige Wealth Management Group LLC Acquires 875 Shares of Martin Marietta Materials, Inc. $MLM

Prestige Wealth Management Group LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 4,605.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 894 shares of the construction company’s stock after acquiring an additional 875 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Martin Marietta Materials were worth $557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vise Technologies Inc. raised its stake in shares of Martin Marietta Materials by 25.0% during the fourth quarter. Vise Technologies Inc. now owns 914 shares of the construction company’s stock valued at $569,000 after acquiring an additional 183 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Martin Marietta Materials by 1.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,359 shares of the construction company’s stock worth $13,922,000 after purchasing an additional 354 shares during the last quarter. Verus Capital Partners LLC grew its stake in shares of Martin Marietta Materials by 4.8% in the fourth quarter. Verus Capital Partners LLC now owns 550 shares of the construction company’s stock worth $342,000 after purchasing an additional 25 shares during the last quarter. State of Wyoming increased its holdings in Martin Marietta Materials by 40.1% in the fourth quarter. State of Wyoming now owns 1,615 shares of the construction company’s stock valued at $1,006,000 after purchasing an additional 462 shares during the period. Finally, Sivia Capital Partners LLC increased its holdings in Martin Marietta Materials by 11.9% in the fourth quarter. Sivia Capital Partners LLC now owns 572 shares of the construction company’s stock valued at $356,000 after purchasing an additional 61 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group set a $739.00 target price on Martin Marietta Materials in a report on Sunday, May 10th. Barclays lowered their price objective on Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Oppenheimer began coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They set a “market perform” rating for the company. Morgan Stanley lowered their price objective on Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Finally, Zacks Research upgraded Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $681.94.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $581.54 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.11 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $591.56 and its two-hundred day simple moving average is $620.30. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97. The stock has a market capitalization of $34.92 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.47 and a beta of 1.10.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the company posted $1.90 EPS. As a group, analysts predict that Martin Marietta Materials, Inc. will post 19.41 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 1st. Martin Marietta Materials’s payout ratio is presently 7.91%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.