SteelPeak Wealth LLC Buys 359 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

SteelPeak Wealth LLC grew its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) by 13.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,050 shares of the construction company’s stock after acquiring an additional 359 shares during the quarter. SteelPeak Wealth LLC’s holdings in Martin Marietta Materials were worth $1,652,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Martin Marietta Materials in the first quarter worth about $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Martin Marietta Materials during the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new position in Martin Marietta Materials during the first quarter valued at approximately $31,000. Benjamin Edwards Inc. boosted its holdings in Martin Marietta Materials by 78.8% in the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in Martin Marietta Materials by 74.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 61 shares of the construction company’s stock worth $30,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Stock Up 2.7 %

Shares of NYSE MLM traded up $14.35 during mid-day trading on Thursday, reaching $539.80. 434,208 shares of the company were exchanged, compared to its average volume of 445,045. Martin Marietta Materials, Inc. has a 1 year low of $389.90 and a 1 year high of $626.67. The firm has a 50-day moving average of $550.88 and a 200 day moving average of $569.50. The stock has a market cap of $33.27 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 3.12 and a beta of 0.91. The company has a quick ratio of 2.41, a current ratio of 3.16 and a debt-to-equity ratio of 0.44.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the firm earned $5.60 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that Martin Marietta Materials, Inc. will post 22.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Stephens lowered their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Loop Capital dropped their price target on Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus cut their target price on Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Truist Financial lowered their price target on Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Jefferies Financial Group upped their target price on Martin Marietta Materials from $660.00 to $665.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $624.18.

Martin Marietta Materials 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.