Elevation Point Wealth Partners LLC Acquires 3,344 Shares of Martin Marietta Materials, Inc. $MLM

Elevation Point Wealth Partners LLC raised its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 219.1% in the first quarter, Holdings Channel.com reports. The firm owned 4,870 shares of the construction company’s stock after acquiring an additional 3,344 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Martin Marietta Materials were worth $2,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of MLM. Victory Capital Management Inc. increased its holdings in shares of Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Bank of America Corp DE lifted its stake in shares of Martin Marietta Materials by 1.1% in the third quarter. Bank of America Corp DE now owns 2,365,832 shares of the construction company’s stock valued at $1,491,136,000 after buying an additional 25,155 shares during the period. Geode Capital Management LLC grew its position in Martin Marietta Materials by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock worth $963,406,000 after buying an additional 10,743 shares in the last quarter. Morgan Stanley grew its position in Martin Marietta Materials by 5.3% during the fourth quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock worth $851,188,000 after buying an additional 68,382 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Martin Marietta Materials by 9.3% during the fourth quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock valued at $479,389,000 after acquiring an additional 65,623 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Up 0.1%

Shares of MLM opened at $599.97 on Friday. The company has a quick ratio of 1.11, a current ratio of 2.28 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $584.98 and a two-hundred day moving average price of $616.91. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 2.55 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12 month low of $525.38 and a 12 month high of $710.97.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue was up 17.2% compared to the same quarter last year. Equities analysts predict that Martin Marietta Materials, Inc. will post 19.38 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.32 annualized dividend and a yield of 0.6%. Martin Marietta Materials’s payout ratio is currently 7.91%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MLM shares. Citigroup cut their price target on Martin Marietta Materials from $804.00 to $731.00 and set a “buy” rating for the company in a report on Monday, May 4th. Raymond James Financial reissued an “outperform” rating on shares of Martin Marietta Materials in a report on Monday, June 29th. Truist Financial boosted their price objective on Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Oppenheimer assumed coverage on Martin Marietta Materials in a research report on Thursday, May 28th. They issued a “market perform” rating for the company. Finally, UBS Group set a $739.00 price target on shares of Martin Marietta Materials in a research note on Sunday, May 10th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $681.94.

Martin Marietta Materials Company 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.