Kestra Investment Management LLC Purchases New Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Kestra Investment Management LLC purchased a new stake in Martin Marietta Materials, Inc. (NYSE:MLM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 67 shares of the construction company’s stock, valued at approximately $35,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Personal Financial Services acquired a new stake in shares of Martin Marietta Materials during the third quarter worth $33,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $41,000. R Squared Ltd acquired a new stake in shares of Martin Marietta Materials during the fourth quarter worth $41,000. Larson Financial Group LLC acquired a new stake in shares of Martin Marietta Materials during the third quarter worth $49,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Martin Marietta Materials by 60.3% during the fourth quarter. Fortitude Family Office LLC now owns 101 shares of the construction company’s stock worth $52,000 after purchasing an additional 38 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Performance

Shares of MLM opened at $489.94 on Friday. The firm has a 50-day moving average price of $530.12 and a 200 day moving average price of $547.08. The firm has a market capitalization of $29.95 billion, a PE ratio of 15.15, a P/E/G ratio of 4.45 and a beta of 0.91. The company has a quick ratio of 1.40, a current ratio of 2.50 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 52-week low of $482.72 and a 52-week high of $633.23.

Martin Marietta Materials (NYSE:MLM) last announced its earnings results on Wednesday, February 12th. The construction company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Monday, March 3rd. Martin Marietta Materials’s payout ratio is 9.77%.

Analyst Ratings Changes

A number of analysts have weighed in on MLM shares. Stephens dropped their target price on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded shares of Martin Marietta Materials from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $515.00 to $640.00 in a research report on Wednesday, November 27th. UBS Group began coverage on shares of Martin Marietta Materials in a research report on Thursday, November 7th. They set a “buy” rating and a $730.00 price target for the company. Finally, Truist Financial lowered their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One equities research 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $639.43.

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.