Apollon Wealth Management LLC Grows Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Apollon Wealth Management LLC boosted its holdings in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,678 shares of the construction company’s stock after buying an additional 139 shares during the period. Apollon Wealth Management LLC’s holdings in Martin Marietta Materials were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of Martin Marietta Materials by 2.5% in the 3rd quarter. Amalgamated Bank now owns 16,460 shares of the construction company’s stock valued at $6,757,000 after buying an additional 397 shares during the period. Simplicity Solutions LLC boosted its holdings in Martin Marietta Materials by 166.1% during the fourth quarter. Simplicity Solutions LLC now owns 2,725 shares of the construction company’s stock worth $1,360,000 after buying an additional 1,701 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Martin Marietta Materials during the third quarter valued at $3,284,000. Cerity Partners LLC boosted its stake in shares of Martin Marietta Materials by 199.8% during the 4th quarter. Cerity Partners LLC now owns 4,791 shares of the construction company’s stock worth $2,390,000 after acquiring an additional 3,193 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Martin Marietta Materials by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,739 shares of the construction company’s stock valued at $2,863,000 after acquiring an additional 85 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 0.4 %

Shares of NYSE MLM opened at $596.64 on Thursday. The company has a market capitalization of $36.78 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.16 and a quick ratio of 2.41. The company has a 50 day simple moving average of $600.80 and a 200-day simple moving average of $526.10. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67.

Martin Marietta Materials (NYSE:MLM) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.05. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts predict that Martin Marietta Materials, Inc. will post 21.7 earnings per share for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is presently 8.77%.

Wall Street Analysts Forecast Growth

MLM has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on Martin Marietta Materials from $642.00 to $737.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. HSBC upgraded shares of Martin Marietta Materials from a “reduce” rating to a “hold” rating and lifted their target price for the company from $376.00 to $543.00 in a research report on Thursday, February 22nd. Raymond James upped their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Truist Financial increased their target price on Martin Marietta Materials from $610.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Wolfe Research lowered Martin Marietta Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $598.17.

Insider Activity

In related news, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares in the company, valued at approximately $10,757,099.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Martin Marietta Materials news, EVP Roselyn R. Bar sold 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total value of $6,032,900.00. Following the completion of the transaction, the executive vice president now owns 59,970 shares in the company, valued at $36,179,301.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,724 shares of Martin Marietta Materials stock in a transaction on Friday, February 16th. The shares were sold at an average price of $543.48, for a total value of $936,959.52. Following the completion of the transaction, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,724 shares of company stock valued at $16,033,760. Company insiders own 0.68% of the company’s stock.

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.