GDS Wealth Management Purchases 2,170 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

GDS Wealth Management boosted its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 57.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,942 shares of the construction company’s stock after buying an additional 2,170 shares during the period. GDS Wealth Management’s holdings in Martin Marietta Materials were worth $3,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its stake in Martin Marietta Materials by 1,300.0% during the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after buying an additional 52 shares during the last quarter. First Personal Financial Services bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $33,000. R Squared Ltd bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $41,000. Retirement Wealth Solutions LLC bought a new stake in shares of Martin Marietta Materials in the 4th quarter valued at approximately $41,000. Finally, Larson Financial Group LLC bought a new stake in shares of Martin Marietta Materials in the 3rd quarter valued at approximately $49,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Trading Down 1.4 %

MLM opened at $536.39 on Tuesday. Martin Marietta Materials, Inc. has a 52 week low of $490.05 and a 52 week high of $633.23. The stock’s fifty day moving average is $546.41 and its two-hundred day moving average is $550.93. The company has a market capitalization of $32.78 billion, a P/E ratio of 16.72, a PEG ratio of 4.60 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $0.79 dividend. The ex-dividend date was Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.59%. Martin Marietta Materials’s dividend payout ratio is presently 9.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MLM. Wolfe Research raised 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. HSBC upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $690.00 price target on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded Martin Marietta Materials from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $515.00 to $640.00 in a report on Wednesday, November 27th. Raymond James reduced their price target on Martin Marietta Materials from $640.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. Finally, UBS Group began coverage on Martin Marietta Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $730.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $648.71.

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.